The data tape is designed to replace the data tape established by the American Securitization Forum in 2009, providing more standardization to the prime non-agency MBS market.
A AAA-rated tranche of a commercial MBS issued after 2010 suffered losses recently, a first for the market. The Financial Stability Oversight Council said such losses are not likely to be widespread.
At yearend, traders and lenders are trying to get a handle on the direction of interest rates, with geopolitical events potentially playing a larger role than originally thought.
A loan for the Fontainebleau Miami Beach Resort will back a $975.0 million commercial MBS. The venue hosts the ABS East conference and is adding to its convention space.
Officials at Rithm Capital believe that regulatory uncertainty will lead banks to sell more assets through asset-based finance structures, turning to asset managers like Rithm.
Associated Banc-Corp will take a loss in the fourth quarter; Chase packages seasoned jumbos in non-agency MBS; Octane Lending expands ABS issuance; another whole-business ABS from Jersey Mike’s.
Growth in securitizations of home equity loans slowed in the third quarter from an exponential pace earlier in the year. Still, issuance was up, with Rocket leading the way. (Includes two data tables.)
An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.
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