Between 2015 and 2022, the private mortgage industry transferred more than $20.8 billion of risk exposure via the issuance of 51 insurance-linked notes through the capital markets.

Issuance of student loan ABS has been constrained by rising interest rates and uncertainty on federal forbearance policies, among other issues. With payment requirements on federally backed loans set to resume, delinquencies could increase.

Credit Suisse rejects bids for non-agency MBS servicing handled by SPS; SFA President Kristi Leo to depart; Ginnie sets timelines for transition away from GinnieNET; hotel operator details reasons for ceasing payments on loan in commercial MBS.

Lower demand and drastically reduced issuance may balance out in the MBS market. Meanwhile, high spreads mean the asset could attract new investors.

Numerous industry participants support FHFA developing a social bond designation for single-family MBS issuance from the GSEs. There are lingering concerns about the impact on the agency MBS market and borrower privacy.

The need for Ginnie Mae nonbank issuers to have ongoing access to capital is key to their success, and that informs the agency’s approach to policy and risk management, said Ginnie President Alanna McCargo. 

Spreads on new non-agency MBS issuance are tightening. Still, issuance is expected to decline on an annual basis.

With mortgage banking profits under pressure these days, sleep is still being lost over what might go wrong in the nonbank sector regarding Ginnie Mae obligations. One idea: a commercial paper backstop.

The FDIC has filed several lawsuits related to its role as receiver in the liquidation of Washington Mutual.

Fitch Ratings has released an exposure draft of criteria for rating single-borrower single-family rental securitizations, with key ratings drivers including property valuation analysis and ratings stresses.