The strong demand for non-agency mortgage-backed securities this year looks to be tied to a number of factors, according to industry analysts. ICE Data Services, a firm that tracks non-agency MBS prices, noted that the sector has been helped by large settlements involving legacy non-agency MBS. And investors are more comfortable with the legal liability associated with non-qualified mortgages, prompting significant securitization of the loans. Issuers are also experimenting with ...
Performance of ABS backed by credit-card receivables remained strong in the third quarter of 2018 despite rising consumer-debt levels, according to an update from Moody’s Investors Service.
The first post-crisis subprime auto ABS to suffer a downgrade has been demoted further due to ongoing performance issues. The downgrades so far have been limited to the lowest tranche of the ABS issued by Honor Finance, but the class B notes are on watch for a potential downgrade.
Despite a robust economy, retailers are still floundering in a shifting business environment. Recent bankruptcy filings and store closures by retailers are posing risks to certain commercial MBS, according to several reports.
Ginnie Mae’s recent focus on issuer liquidity and requirements for using subservicing vendors has received high marks from key industry factions and former regulators, but not everyone is happy.
The White House is moving closer to naming an interim successor to Federal Housing Finance Agency Director Mel Watt, whose term is set to expire in early January, industry sources told Inside MBS & ABS this week.
The Department of Veterans Affairs wants to act quickly to stamp out cash-out refinance transactions that it deems abusive to service members. It’s going to bypass a lengthy rulemaking process and issue an interim rule to address the problem.
The handling of a lawsuit relating to repurchase activity on pre-crisis non-agency MBS could have a wide-ranging impact on the industry, according to the Securities Industry and Financial Markets Association.
Prepayment speeds for recently issued Fannie Mae and Freddie Mac MBS in the to-be-announced market were closely aligned during the third quarter, according to a new report from the Federal Housing Finance Agency.
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