Despite protests that existing yield maintenance protects investors from prepayment risk on agency CMBS, FHFA directed the Federal Home Loan Banks to limit their exposure.

At one point during the pandemic, used car prices were up 50% year over year. Now, appreciation is around 20%, prompting speculation that auto ABS performance will take a hit.

While ESG factors have mattered since the 1990s, KBRA analyst Eric Thompson said questions such as whether an asset will be impacted by rising sea levels are gaining more prominence.

FHFA proposes tougher housing goals for the GSEs and SFA will require attendees at the upcoming SFVegas conference to be vaccinated.

Any reform to the executive compensation structure at Fannie Mae and Freddie Mac should be made with an eye toward the companies eventually exiting conservatorship, the trade group said in a comment letter to the FHFA.

Commentators seem to agree that stronger capital positions are good for the Ginnie Mae business in general, but getting there is the hard part.

The company’s $450 million issuance has a 30-month term and is backed by houses purchased directly from homeowners.

The two restaurant chains will use the ABS proceeds to largely pay down their previous deals. The Taco Bell issuance received a higher rating than Hooters.