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Grapevine: Foreclosure Starts Rise; SEC Proposes Cybersecurity Rules

March 11, 2022
Brandon Ivey
Foreclosure starts increased in February; SEC to revamp cybersecurity reporting for public companies; Tradepost acquires GSF Mortgage as part of an expansion of Go Companies; Milo raises $17 million; MISMO to develop standards for eVaults.
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GSE CRT Issuance Declines in 2021 Despite Fannie’s Return

March 10, 2022
Dennis Hollier
Fannie resumed issuing credit-risk transfer notes in October after a long break. Still, GSE CRT issuance couldn’t match 2020’s volume. (Includes data chart.)
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Secondary Market Demand is in Flux for Non-QMs

March 10, 2022
Brandon Ivey and Paul Muolo
Spreads on MBS involving non-qualified mortgages have widened due to rising interest rates and excess supply. However, demand is on the rise again as new buyers are entering the space.
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Incenter Adds a Due Diligence Component: Edgemac

March 10, 2022
Paul Muolo
A provider of due diligence and document management services, Edgemac has a new owner: Incenter, a Blackstone “portfolio” company. The target: non-QM and jumbo securitizations and maybe a whole lot more.
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SFA Seeks Consensus on ESG Disclosure Framework

March 10, 2022
Monica Hogan
The Structured Finance Association is seeking input from its members as it works to develop consistent disclosure frameworks for MBS and ABS that highlight their environmental, social and governance features.
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Chain Restaurants Continue to Tap Whole-Business ABS

March 10, 2022
Brandon Ivey
Jimmy John’s and Wingstop are on the menu in the latest round of whole-business securitizations.
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Fed Winds Down Net MBS Purchases

March 10, 2022
Dennis Hollier
The aching question: How far and how fast will the FOMC go in allowing its portfolio of agency securities to run off?
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House Spending Package Includes Bill Addressing LIBOR Transition

March 10, 2022
Sam Manas
The bill seeks to address the transition of “tough legacy” contracts away from the London Interbank Offered Rate.
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Non-Agency Offsets Stumble in Fannie/Freddie Jumbo Market

March 10, 2022
John Bancroft
The conforming-jumbo business saw a modest setback in 2021...
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Fifth Circuit Remands Collins GSE Case to District Court

March 10, 2022
Dennis Hollier
The five dissenting judges were even more skeptical, arguing that a remand was unnecessary...
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