Ginnie reduces minimum required pool size for HMBS; Ares Management to issue non-QM MBS; S&P extends comment period on triple-net lease changes; Stifel builds out agency MBS unit; commercial MBS issuers urged to consider advertising.
Rising spreads brought credit-risk transfer issuance to a halt in the fourth quarter and more than halved reinsurance transactions. Still, combined Fannie and Freddie CRT deals hit a record $21.64 billion in 2022. (Includes data chart.)
Delinquencies and impairments continued to increase on unsecured consumer ABS and subprime auto ABS at the end of 2022. Credit card ABS performance is holding up better.
An appeals court has awarded ResCap Liquidation Trust nearly $22 million in damages and other expenses in its case against Primary Residential Mortgage.
Issuers of structured finance products continue to increase their environmental, social and governance disclosures, according to a new survey from the Structured Finance Association.
Ginnie EBOs tanked in the fourth quarter to just $620 million. Meanwhile, new earnings reports show just how much the reduction has affected companies engaged in such activities.
Credit Suisse completed the first part of the sale of its securitized products group; tighter pricing for Fannie with latest CRT offering; SEC’s rating service report light on details; retrial in GSE shareholder case set for July; RMF’s planned securitization scuttled.
Attorneys and structured finance trade groups are combing through the SEC’s proposed rule on conflicts of interest in ABS transactions. Some are concerned the rule might prevent actions to support liquidity or hedging.
Can nonbanks become significant players in the HELOC market and ride MBS execution to a new wave of dominance? Due diligence firms that facilitate such transactions hope so.
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