Low loan-to-value ratios and structural features are protecting investors in non-qualified mortgage MBS.

loanDepot is preparing to issue a non-agency MBS stocked with scratch-and-dent mortgages.

In a first for both companies, student loans originated by SoFi will go into a risk-sharing transaction with help from Bayview.

It’s been almost 20 years since the ABS market had a quarter like the first three months of 2024. Some 72 of the 114 issuers that brought deals to market in the first quarter were on the sidelines in the previous period. (Includes three data tables.)

Freddie Mac is seeking approval to acquire second liens. The Structured Finance Association opposes the proposal, noting that non-agency outlets are providing sufficient liquidity for seconds.

Securitization of home equity loans increased again in the first quarter, driven by closed-end second liens. Issuance is growing exponentially, helped by nonbanks and investor demand. (Includes two data tables.)

Several factors will likely limit changes in prepayment activity in Ginnie MBS as the VA implements a new loss-mitigation program.

You thought rates would be falling by now, causing the MBS you own to spike in value. Right? It didn’t work out that way, but it might now. Advice: Bet on a rate cut from the Fed by the fall.

Uncertainty about interest rate cuts has led more auto ABS issuers to consider clean-up calls.

KBRA found that new multifamily construction could increase risks for MBS concentrated in certain cities.