Yield PRO TV Rate Desk April 10, 2020

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
• 1.77% floating rate
• LIBOR leaves in 2021
• Rate: 30-day average SOFR + 150 bps
• 85% loan-to-collateral-value