The Community Home Lenders Association has expressed concerns that Ginnie Mae is on a mission to reduce the number of MBS issuers and tighten credit standards — moves that would affect its core members and hurt its housing mission.
Commercial real estate collateralized loan obligations are a valuable financing tool, albeit with some risks, industry officials said at a conference sponsored by the CRE Finance Council in Miami last week.
The average daily trading volume in agency MBS fell to $212.9 billion in December, one of the lowest readings of the year, according to figures compiled by the Securities Industry and Financial Markets Association.
Fannie Mae and Freddie Mac are coming off strong years for their multifamily business and most observers say that success is likely to continue well into 2019.
Some Democrats are concerned that FHFA nominee Mark Calabria isn’t the best person to chart the GSEs’ future course. A full Senate confirmation of Calabria could take several months, though.
With Michael Bright at the helm, the Structured Finance Industry Group plans to focus on policy issues and on strengthening ties with key members of government and regulatory bodies.
Despite a sharp rise in the fourth quarter, issuance of commercial MBS for the whole of 2018 declined 6 percent. Agency multifamily MBS continued to dominate the overall CMBS market. [Includes one data chart.]
A total of $223.74 billion of new non-mortgage ABS came to market in 2018, the best annual showing since the financial crisis, according to a new ranking and analysis by Inside MBS & ABS.The market faltered in the fourth quarter, however, as ABS production slumped 14.9 percent to $45.05 billion. That was the lowest quarterly output since the end of 2016. [Includes two data charts.]
The department store industry faced some performance hurdles at the beginning of the year, and its troubles are likely to linger on, impacting the commercial MBS market, analysts said.
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