The final rule for private fund advisers addressed many concerns of CLO market watchers around compliance burdens. Separately, a federal appeals court held that syndicated term loans aren’t securities.
Despite 15 months of balance sheet reduction, at the current pace, it will still take the Federal Reserve nearly four and a half years to bring its holdings of MBS and Treasuries down to pre-pandemic levels.
Most residential MBS and commercial MBS have limited exposure to the hurricane; the FDIC is working to sell Signature Bank’s $33 billion portfolio of commercial mortgages; DBRS ready to rate residential transition loan MBS; MISMO seeking comments on ESG materials.
When it comes to net revenue, MBA had a strong showing in fiscal 2022. But the trade group remains worried about what industry consolidation might do to its numbers going forward.
The severe correction in residential originations is causing turmoil. Not only are nonbanks closing their doors or consolidating, but so too are the warehouse funders that lend them cash. (Includes data chart.)
A new study shows that the shift from the tri-merge to a bi-merge credit report will have a minimal effect on the average borrower’s credit score, at least using Classic FICO.
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