FINRA said the implementation of the amended Rule 4210 can’t take place until the SEC formally rescinds a 2022 stay.

There may be a rush to amend CLOs before the June 30 LIBOR transition deadline, according to S&P.

FDIC monitoring commercial MBS performance; MISMO to update ASF data standards; ACC subprime auto ABS servicing update.

After playing defense in 2022, investors appear to be willing to deploy capital even as the MBS and ABS markets face numerous headwinds. Attendance at this week’s SFVegas conference hit a record level.

Investors are pleased that FHFA has improved the capital treatment of commingled securities. The overall industry response to the proposed rule change, though, has been a resounding “meh.”

The mortgage servicing rights market has been incredibly volatile lately, Ginnie Mae President Alanna McCargo told attendees at SFVegas.

Prime jumbos are unlikely to account for the majority of non-agency MBS issued this year, a first for the products since the time before the financial crisis. Non-QM MBS issuance is holding up better and second-lien securitizations are building some momentum.

Finally, prices are starting to seem (somewhat) reasonable for non-agency whole loans of the non-QM variety. But this applies to recently originated product — where supply is lacking.

S&P Global Ratings said that the advantages of decentralized finance securitizations, including increased transaction speeds and greater transparency, are counterbalanced by several risks in the sector. Many of the risks are inherent to the use of a blockchain, like difficulty correcting errors in registered information.

Global conflicts top of mind at SFVegas; ESG and credit risk; no housing-finance reform expected when the sun’s out; Ginnie looking to fill COO position; American Car Center’s subprime ABS under review.