The firm this week postponed a $1 billion IPO for a new REIT that will purchase MBS and related assets. Down the road, the REIT likely will dip its toe in the non-QM pond as well.
S&P's proposal to loosen rating standards for CLOs was criticized by a former chief credit officer of the rating service. Annual issuance of CLOs increased by 9% in 2018 to $129 billion, with analysts warning of performance issues.
Postal Realty Trust is set to tap the capital market with a $100 million initial public offering in a bid to become the only publicly traded REIT dedicated to owning and managing USPS properties.
So, you thought it was safe to re-enter the Ginnie Mae market? Maybe, maybe not. VA loan churning could be an issue again and federal investigators are asking questions about underwriting practices and delinquencies. Subpoenas have been issued.
A huge downturn in issuance of agency multifamily MBS was the key factor in a 23% decline in commercial mortgage securitization during the first quarter of 2019. Non-agency CMBS production saw a gentler 6% downturn.
PIMCO could raise $1 billion from an IPO for a newly-formed REIT, PIMCO Mortgage Income Trust, which will initially invest in agency MBS, followed by mortgage servicing rights.
Blockchain technology is making inroads in the MBS and ABS sector, though there are still a number of questions that need to be addressed, according to rating services.
Annaly Capital Management Corp. and AGNC Investment Corp. continued their MBS-hoarding ways during the first quarter but have had to deal with paper losses and negative hedging marks thanks to lower interest rates.
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