Demand for MBS/ABS remains high, helped by interest rate trends. But President Trump is a wildcard, prompting some caution among investors.

The legislation would carve out a mortgage licensing exemption for MBS. The bill is expected to pass, ending disruptions for non-agency MBS.

NAIC could increase oversight of its Securities Valuation Office ahead of a proposal that would allow the SVO to change ratings on insurance company investments.

The private credit market, led by nonbank lending activity, is projected to reach $2.8 trillion by the end of 2028.

SFA and ICE developing securitization index; securitization involving professional sports on the horizon; rating services comfortable with Trimont acquiring Wells Fargo’s third-party commercial mortgage servicing business; deal structuring tool from dv01.

Banks are increasingly turning to nonbank partners to reduce their mortgage portfolios.

Rithm issued seven MBS deals last year and expects to continue growing its securitization business in 2025.

Uncertainty on the future of Fannie Mae and Freddie Mac has caused some lenders to deliver their agency-eligible production to the non-agency secondary market.

Issuance of both closed-end second liens and home equity lines of credit declined in the fourth quarter. For the full year, securitization of home equity loans dwarfed 2023. (Includes two data tables.)

The MBS is stocked with investment-property mortgages eligible for sale to the GSEs. Bayview Asset Management last issued a non-agency MBS on its Oceanview shelf in October 2022.