Securitization of commercial mortgages got off to a solid start in the first quarter of 2018, with the non-agency sector showing more strength than it did a year ago. [Includes one data chart.]
A sharp increase in recent months in the volume of mortgages eligible for sale to the government-sponsored enterprises being placed in non-agency MBS is exposing investors to higher potential losses than deals backed solely by prime jumbo loans, according to Kroll Bond Rating Agency.
The average daily trading volume in agency MBS fell to $215.2 billion in March, the lowest reading of the year and the worst showing since August of 2017, according to figures compiled by the Securities Industry and Financial Markets Association.
The performance and returns offered by credit card ABS differ significantly by the type of firm issuing the deal, according to a recent analysis by Moody’s Investors Service.
PennyMac Mortgage Investment Trust plans to issue $450 million worth of secured term notes collateralized by Fannie Mae mortgage servicing rights and excess receivables. The paper matures in April 2023.
Agency issuance of real estate mortgage investment conduits backed by single-family MBS jumped significantly higher in the first quarter of 2018, led by a huge increase in Freddie Mac production, according to a new Inside MBS & ABS analysis. [Includes one data chart.]
S&P Global Ratings has rated its first Property Assessed Clean Energy (PACE) securitization deal, which could help perk investor interest in the fledgling asset class.
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