The agency single-family MBS market is the main driver of structured finance issuance, but it recorded a decline in first-quarter production while ABS, commercial MBS and non-agency RMBS posted gains. (Includes three data tables.)

The circuit court held that the ABS trusts are covered persons subject to the CFPB’s authority under the Dodd-Frank Act. The lawsuit could have a major impact on the broader securitization market, the Structured Finance Association warned.

CRT deals involving auto loans typically have a pro rata structure, which can create more risks for investors than the sequential pay structure in ABS transactions. Structures are also evolving, including a deal issued by a nonbank in partnership with a bank.

The Ellington Financial affiliate is ditching agency MBS to become a registered closed-end fund with a focus on CLO investments.

Beginning May 13, Ginnie Mae will transition to a central application system for issuer submissions of required fidelity bond, errors and omissions insurance, and financial statements.

Two former members of the Fed’s board called for bank regulators to adjust capital requirements for MBS holdings to better account for interest rate risk.

Ohio-based Go Mortgage and its former capital markets head Katie Chikonde reached a settlement through court-ordered mediation.

Home equity shared investment products are gaining acceptance, so much so that contracts are finding their way into new securitizations. BSI hopes to be a top player as an asset manager and servicer.

The securitization rate for residential mortgages increased each quarter in 2023. Though on an annual basis, the rate was steady. (Includes data table.)

The Fed could start cutting rates in June, according to projections by industry analysts. The Fed is also moving toward slowing the runoff of its holdings of Treasury securities and MBS.