MBS holdings at Fannie and Freddie are a shadow of what they used to be. Then again, being in a conservatorship that just celebrated its quinceanera will do that to you.
The Structured Finance Association continues to push forward on revising the disclosures used with non-agency MBS. The revisions could lead to major changes in industry practices.
The final rule for private fund advisers addressed many concerns of CLO market watchers around compliance burdens. Separately, a federal appeals court held that syndicated term loans aren’t securities.
Despite 15 months of balance sheet reduction, at the current pace, it will still take the Federal Reserve nearly four and a half years to bring its holdings of MBS and Treasuries down to pre-pandemic levels.
Most residential MBS and commercial MBS have limited exposure to the hurricane; the FDIC is working to sell Signature Bank’s $33 billion portfolio of commercial mortgages; DBRS ready to rate residential transition loan MBS; MISMO seeking comments on ESG materials.