The fastest-growing sectors of the MBS market in the third quarter were Ginnie Mae and the non-agency market. Banks, foreign investors, money managers and insurance companies easily offset the slow decline in the Fed’s portfolio. (Includes two data tables.)
The changes are focused on rating criteria for private student loans and will have a mixed impact on outstanding deals. Industry had raised concerns about the proposal, but Moody’s pushed forward.
The final rule will allow lenders to disburse up to 1% of FHA-endorsed multifamily construction loan proceeds before borrower-provided funds are fully exhausted.
The data tape is designed to replace the data tape established by the American Securitization Forum in 2009, providing more standardization to the prime non-agency MBS market.