Ginnie Mae has the authority to extinguish a lender’s lien on the tails of pooled home equity conversion mortgages, the Fifth Circuit Court of Appeals affirmed last week.
The proposal would set higher capital requirements for multi-collateral structured credit investments by insurance companies. The Structured Finance Association is calling for additional disclosure instead.
The U.S. operations of Banco Santander are merging the Santander Consumer USA unit into Santander Bank. Analysts believe the operations of one of the leading issuers of auto ABS are ultimately aligned.
Kroll Bond Rating Agency placed the 2025 transaction on watch for a possible downgrade, citing concerns with the loss rate on the deal, and the company’s prospects more broadly.
Losses are widely expected for agency MBS investors in the third quarter of 2026. However, the same factors that diminish values of MBS holdings also make new investments in MBS more attractive to investors.
In a high-rate environment, debt service coverage ratios determine the size of an agency refinance. Those loans may not be large enough to cover the inflation-driven debt of many multifamily properties.