Kin Insurance issued a $335 million catastrophe bond last week, its largest offering to date.

Aircraft-lease ABS generally have low exposure to Spirit Airlines, and planes tied to Spirit are expected to be re-leased with little issue due to strong demand in the market.

American Airlines generated about $1.1 billion from the sale of enhanced equipment trust certificates. It will use the proceeds to purchase 17 new aircraft and refinance loans on 15 older aircraft.

FICO’s CEO argued that VantageScore isn’t gaining much traction in the MBS and ABS markets, and that the only way the score will take share with GSE mortgages will be if lenders game the system.

A handful of GSE specified-pool categories based on maximum loan amounts saw increased production in the first quarter, as did MBS backed by investor loans. (Includes data table.)

Fitch placed a “deteriorating” outlook on the securitized second-lien market due to rising delinquencies. However, the rating service said that the sector is still performing within its base case expectations.

Some large servicers are using securitizations for MSR financing while mid-size and smaller servicers stick with bilateral agreements.

Ginnie altered its reporting guidelines so issuers wouldn’t have to remove large volumes of delinquent loans from MBS all at once. Goldman Sachs analysts warned that the can has just been kicked down the road.

Policies put in place during the pandemic prevent many small banks and credit unions from selling small-balance loans to the GSEs, which constrains mortgage lending in rural and low-income communities.

With softening home price appreciation, expanded-credit MBS might not see loss severities increase thanks to low LTV ratios at issuance.