The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: This is Ryan on for Jade. Just regarding the servicing portfolio, do you have any data on the percentage of tenants that are benefiting from
unemployment insurance?
Just considering the uncertainty we're facing on the stimulus front, Ivan, curious to get your thought on what the impact of a decline or nonrenewal
of the extended unemployment insurance could be on multifamily in general in terms of credit performance.
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: And just to clarify your earlier comments, I believe you said 0.4% forbearance in the Fannie book, and was it 5% in the Freddie book?
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: 6%. Okay. Great. And then in terms of the agency origination strength continues to be very strong, how confident are you in the sustainability of
that going into the second half of the year? And do you have any data you can share on what percentage of your agency originations are driven
by refi business?
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: Great. And just one last question on the balance sheet portfolio. It looks like you had an additional NPL on the hotel side as well as in retail loan.
Any color there on those particular assets and then with the provisions taken in the quarter, both on the balance sheet book and structured book.
Were those driven by general reserves? Or were any of those asset-specific?
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