The IRS approved a request from an asset manager to allow commercial PACE assessments as qualifying assets for REMICs. And Fitch has new commercial MBS criteria to assess commercial PACE loans.
Researchers show that an increase in uncertainty about the Fed’s balance sheet policy boosts the yield on long-term Treasuries and increases the duration of non-agency MBS.
Ascent Funding has an offering backed by loans tied to coding classes. Morningstar has warned that ABS investors aren’t protected in the event of a bankruptcy by the borrower.
NewtekOne is boosting originations of small business loans outside of the SBA 7(a) program. The firm recently issued its second ABS of the loans, offering strong yields for issuers and investors.
Agency MBS investors are looking forward to the Fed cutting interest rates twice this year. However, they warned that something unexpected could prevent the Fed from cutting rates in September.
The volume of loans removed from Ginnie MBS increased by nearly 20% in the second quarter, driven by borrower loan payoffs. (Includes two data tables.)
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