If the U.S. economy enters a recession, MBS and ABS are expected to perform relatively well, according to S&P. Subprime auto ABS, certain commercial MBS and CLOs are most at risk for downgrades.

Treasury recommends Congress authorize Ginnie Mae to provide “last position” guarantee on MBS backed by conventional and multifamily home loans as well as give it the flexibility to adjust its guarantee fee.

Late this week, the Treasury Department unveiled its long-awaited plan to revamp the mortgage market. There were no huge surprises but Treasury wants “explicit” backing for the agency MBS market.

Live Well Financial, once a top-ranked HECM lender, is now a heap of smoking ash. A new indictment charges that its downfall was predicated by a massive fraud scheme involving interest-only MBS.

Switching from LIBOR to another reference rate looks to be difficult for vintage non-agency MBS. Adopting a replacement rate will require significant communication and cooperation among investors.

Redwood has suggested a number of changes that could boost issuance of non-agency MBS. The REIT wants reforms regarding risk retention and disclosures for non-agency MBS.

Pagaya has issued a $115 million consumer loan ABS backed by market-place consumer loans and managed solely by artificial intelligence.

With more transactions given the go-ahead, China’s RMBS and auto loan ABS sectors face new challenges, according to S&P.

A class-action lawsuit against the issuer of a credit card ABS has the potential to eliminate the preemption banks rely on when contributing assets to MBS and ABS.

Ginnie Mae announced new rating requirements and risk factors to improve and strengthen its oversight of MBS program participants.