Ken Michlitsch, managing director of the alternative lending group at Morgan Stanley, said the ABS structure was designed to address the needs of both insurance clients and asset managers.

ECGI plans to test tokenization of residential mortgages with up to $10 million of collateral.

The subservicer is working to improve services for nonprime borrowers, by expanding payment options and availability of virtual agents.

Home equity investment deals propped up issuance of home equity loan securitizations in the fourth quarter. For the full year, HEL securitizations nearly doubled from 2024 levels. (Includes three data tables.)

Despite some concerns tied to fraud and performance, investors are optimistic that issuance volume will increase this year.

The government agency is working with industry trade groups on potential revisions to its issuer acknowledgment agreements.

Non-qualified mortgage loans and home equity products are gaining interest from investors, driving securitization up.

Credit-risk transfer activities at the GSEs — including both CAS/STACR note issuance and CIRT/ACIS reinsurance purchases — reached some of the lowest levels since the programs were founded in 2013. (Includes data table.)

Saluda Grade has appointed a new co-chief investment officer to navigate its expansion into new investments in non-residential assets.

The overall levels of delinquencies, though, vary on a nominal and age-equivalent basis.