Yield PRO TV Rate Desk April 15, 2020

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:
o 30 days with two 30 day extensions (90 days total)
o No evictions or late fees till July 25
o Lender and borrower look to other finance options first
o Tap replacement for reserve account
o HUD field staff encouraged to liberally approve requests
o Secondary financing (cash surplus notes)
o MBA forbearance agreement approved for use by HUD
• CARES Act providing $1 billion for Section 8 housing