Investor demand for non-agency MBS backed by re-performing loans has prompted an increase in issuance, with a new emphasis on deals that have credit ratings. Chimera Investment issued its first rated RPL transaction this week and MetLife Investment Management is preparing to enter the market as an issuer. “Rated RPL MBS has fundamentally changed the market,” Scott Waterstredt, a managing director at MetLife, said at the recent ABS East conference. He noted that ...