Rate Desk April 15, 2020

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Rate Desk April 15 edition:
  • Markets down from yesterday
  • UST .643 bp
  • 223(f) 2.55-2.72%
  • 221(d)(4) 3.20-3.37%
  • Fannie 3.21%
  • Freddie 3.50%
  • Forbearance:
    • 30 days with two 30 day extensions (90 days total)
    • No evictions or late fees till July 25
    • Lender and borrower look to other finance options first
    • Tap replacement for reserve account
    • HUD field staff encouraged to liberally approve requests
    • Secondary financing (cash surplus notes)
    • MBA forbearance agreement approved for use by HUD
  • CARES Act providing $1 billion for Section 8 housing