Delinquencies and losses on subprime auto ABS have been rising. Improved underwriting and inflation leveling out could help improve performance, according to industry analysts.

Computershare recently started offering trustee services for MBS. Western Alliance was named as a trustee for a CLO deal.

Rocket’s originations and secondary market sales of home equity loans are flourishing without the GSEs. It’s also not yet clear how large of a role the GSEs would have in the market for closed-end second liens.

With Freddie finally increasing its STACR issuance in the first quarter, the GSEs’ slump in CRT activity could be abating. Older deals continue to be retired in a steady stream of tender offers by the enterprises. (Includes data table.)

Acra is once again entertaining the idea of issuing MBS through its own shelf. The wholesaler has also teamed up with a money manager.

The new complaint against the NCSLT builds on a recent court ruling affirming that the CFPB has regulatory powers over ABS trusts.

Four rated HEI securitizations have been issued since Morningstar DBRS began assessing the deals in October.

In a ruling last week, the Third Circuit didn’t seem to agree with a district court that Commerzbank is contractually barred from bringing claims against trusts for agreements with no-action clauses.

Farmer Mac President and CEO Brad Nordholm said he expects to see more business as lenders serving the rural market seek to manage their capital efficiencies, loan and deposit growth, and liquidity needs.

Ginnie seeing strong demand from foreign investors; non-QM demand particularly strong in MBS market; McCargo lands at Federal Home Loan Bank of San Francisco; CMBS downgraded.