DBRS released proposed updates to its North American CMBS Insight Model and multi-borrower rating methodology, and Moody’s proposed revisions to its SFR securitization loan-level legal analysis framework and added transparency on analysis of transaction-level legal risks.
Issuance of GSE Supers appeared to take a hit in July when Fannie and Freddie implemented new fees on commingled collateral, but production rebounded in August. (Includes two data charts.)
Pacific Western Bank started acquiring residential mortgages in March 2021. PacWest is now done acquiring loans and looking to share credit risk on a pool with an unpaid principal balance of $2.68 billion.
Delinquencies on expanded-credit MBS are increasing but investors in the deals appear to be protected at the moment. A review of the sector by Fitch prompted many upgrades and no downgrades.
The Structured Finance Association warned that the Federal Trade Commission’s proposed rule on auto dealers could have unintended consequences for the securitization market.