Jumbo mortgage originations were up in 2020 but most production remained on the lenders' books. Direct sales of conventional loans to non-agency securitizers also fell. (Includes data chart.)

A whole-business ABS from Wendy’s was upsized this week. Carl’s Jr./Hardee’s and Five Guys are also in the market with deals.

CLO issuance has gained speed with the macro environment looking good and interest rates rising. Note: While S&P was quick to downgrade deals during the pandemic, upgrades have been slower.

Rates have been meandering of late but one data point is on the rise: MBS trading. Question: have “mREITs” peaked?

The New York Supreme Court’s Appellate Division said the continuing nature of the alleged harm defeated the state’s six-year statute of limitations for breach of contract claims.

Fitch says payment relief and government assistance have been the main drivers for recovery in the ABS market.

New deals from Flagstar Bank and Redwood Trust demonstrate how quickly issuers are stocking prime non-agency MBS with new originations.

When one window closes, another opens. That seems to be the case when it comes to reducing purchase caps placed by the GSEs on investor loans. Lenders are not happy but investment bankers love it.

Based on activity over the past year, mortgage IPOs can sometimes underwhelm. Angel Oak’s was no exception but investors in the common shares are betting on non-QM lending taking off in the years ahead.

When Congress passed the Dodd-Frank Act in 2010, the SEC had nine months to issue a rule on conflicts of interest in the securitization market. The proposed rule on the issue has been pending since 2011.