Ginnie Mae Project Loans (GNPL), one of the major agency CMBS products, had a breakout year in 2020 as new issuance doubled since 2019.
Typically fixed rate loans that have a maturity term of 35-40 years and full amortization, GNPL are backed by multi-family, health care and rural housing properties, and carry explicit US government guarantee and an outstanding balance of about $137 billion.
You can now read the full whitepaper at the link below
The past five years in US markets have been nothing if not eventful. They’ve featured every macro regime of the economic cycle, where markets weathered a global pandemic, quantitative tightening and easing, inflation, and both low and rising rate environments.
Just 50 years ago, Taiwan was a labour-intensive manufacturing hub for cheap exports such as textiles and toys. In the 1980s, it successfully transformed into a vibrant advanced electronics manufacturing hub that continues to play an important role in the global technology shift of the past decade. Crucially, Taiwan has developed into one of the world’s most critical semiconductor manufacturing centres, and the semiconductor industry has become an inseparable component of Taiwan’s economic growth.
In 1984, FTSE Russell (at the time Russell Indexes) introduced the Russell 3000® Index, the first of its kind to provide institutional investors with a comprehensive, accurate and objective representation of the world’s largest and most liquid (US) equity market.
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