Non-agency MBS issuance hit its highest level since the third quarter of 2007, largely because of surging production of the new generation of Alt A and subprime deals. JPMorgan Chase was the top issuer and top underwriter in the first quarter. (Includes three data tables.)
The Treasury Market Practices Group released a white paper identifying how a change in the ownership structure of Fannie Mae and Freddie Mac could impact the broader financial markets.
RecFi was set to issue a $143.3 million ABS backed by loans for boats and recreational vehicles. The issuer indefinitely postponed the issuance amid volatility in the financial markets.
Originator collateral misrepresentation and servicer reporting fraud also received a notable portion of votes for the most concerning schemes in a new survey from the Structured Finance Association.