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.
While Fannie Mae and Freddie Mac are the dominant outlets for eNotes, other entities are looking to boost adoption of the technology. Ginnie Mae has seen greater enthusiasm for eNotes than anticipated since launching its program in early 2021.
Neighborly, which offers home services through 31 brands, is in the market with its third annual whole-business ABS. The offering differs in some ways from ABS previously issued by the firm.
Agency MBS market recovering after dismal 2022; KBRA generally plans to decline reviewing RAC requests tied to switches from LIBOR to term SOFR in the commercial MBS market.
Even though the upfront fee Fannie and Freddie impose on commingled securities has been sharply reduced, some industry watchers argue that it has permanently damaged the market for Supers and REMICs.
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