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Industry News

Expected Rise of CLO Downgrades Slow to Arrive

After financial experts warned that the pandemic would cause the CLO market to go through its own crisis because of a wave of rating agency downgrades, new data found that this “wave” turned out to be only a small trickle.

Industry News

Bank Executives Are Not Expecting Economic Recovery Soon

A new survey by the Promontory Interfinancial Network found that many banks are preparing to deal with the economic consequences of the coronavirus for the long term.

Industry News

U.S. Bankruptcies on Pace to Reach Highest Level since 2010

Corporate bankruptcies are on track to reach the highest level in ten years according to new data from S&P Global. 424 companies have declared bankruptcy, as of August 9, with most of these bankruptcies occurring in the consumer, industrial, and energy markets.

Industry News

FFIEC Calls for Additional Loan Accommodations as COVID Continues

In a statement issued on Monday, August 3, the Federal Financial Institutions Examination Council (FFIEC) called for banking agencies to offer more loans and provide for additional loan modifications as the first-round of these programs comes to an end.

Industry News

Fitch Ratings Lowers U.S. Credit Rating Outlook to Negative

Last Friday, July 31, Fitch Ratings announced that they would be lowering the U.S. government’s credit rating outlook from “stable” to “negative” but would be keeping the U.S.’s overall credit rating as AAA.

Industry News

Fed Economic Outlook Looks Gloomy as Pandemic Grows

During this week’s Federal Open Market Committee (FOMC) meeting, the Federal Reserve (the Fed) expressed doubts that the US economy would experience a V-shaped recovery in the near future. The doubt comes as numerous states are seeing increases in COVID-19 cases with some states rolling back the progress they made on reopening.

SFA News

SFA Hosts Webinar with DBRS Morningstar on CMBS Market

On Tuesday, July 28, SFA and DBRS Morningstar will be hosting a webinar on the current state of the CMBS market, concerns related to COVID-19 and credit, and recent trends in the commercial real estate sector.

Industry News

Delays in Mortgage Payments Could Cost $2 Billion for CRT Investors

A provision of the CARES Act allowing borrowers impacted by the pandemic to delay payments on loans backed by the GSEs for one year could have significant consequences for credit-risk-transfer (CRT) securities according to Bloomberg.

SFA News

Bright Ideas: COVID-19’s Impact on Homeowners and Renters

SFA’s CEO, Michael Bright, sits down with the President of the National Community Stabilization Trust, Julia Gordon, to discuss how the COVID-19 pandemic is affecting the housing market. They discuss what communities are being impacted the most, and what policymakers can do to help.

Industry News

Global Issuance Down for the First Half of

New data from S&P Global found that global securitization issuance in the first half (H1) 2020 was $420 billion. This is down 20% from the $525 billion total during the same period from last year. Within the U.S., total issuance for H1 2020 was $201 billion, down 30% from the $670 billion last year. U.S.