Rate Desk April 10, 2020

129

April 10 edition
  • Markets up double digits
  • UST ended .72 bp
  • Closed for Good Friday
  • 223(f) 2.60-2.65
  • 221(d)(4) 3.30-3.60
  • Fannie 3.32%
  • Freddie 3.40%
  • HUD San Fran office issues Q&A on construction/rehab loans
  • Stay-at-home order health/safety priority
  • No tenant relocations
  • No unit rehabs
  • Keep paper trail
  • $100 billion for AAAs and CLOs
  • Static CLOs only = AAA rated bonds, outstanding CMBS, newly issued CLOs
  • 3 year terms
  • 77% floating rate
  • LIBOR leaves in 2021
  • Rate: 30-day average SOFR + 150 bps
  • 85% loan-to-collateral-value