Bloomberg: Murky’ Mortgage Bonds See Late-Pays Soar

July 24, 2020
Original article by Adam Tempkin

Caroline Chen, Senior Vice President, gave Bloomberg her take on why fixed income investors should remain cautious about their allocations towards mortgage bonds without U.S. government guarantees. Non-QM RMBS late payment rates have soared upwards of 35% as forbearance requests from Americans struggling financially through the coronavirus crisis spiked. Caroline explained why the non-QM RMBS market is tricky evaluate, given that lenders’ methods of measuring delinquencies can vary drastically.

Read full article here (paywalled).

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