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
