Industry participants continue to try to influence the Securities and Exchange Commission on a proposed rule addressing conflicts of interest in the securitization market.
Despite early fears that the MBS portfolios of the now-defunct Silicon Valley Bank and Signature Bank would be a hard sell, the market has responded favorably to sales of the securities.
Securities and insurance trade groups are concerned about a proposed update to standards from the National Association of Insurance Commissioners, which has oversight of MBS and ABS investments.
MBS trading increased in June. That’s the good news. But for trading to really take off, the Fed needs to cut rates, an unlikely prospect until next year.
The Community Home Lenders of America is pushing for Congress to create a cash window for deliveries to Ginnie Mae. Former Ginnie President Ted Tozer noted the agency’s charter doesn’t allow it to operate a cash window.
DBRS issued a new methodology to assess ABS issuance of loans tied to fine art and collectibles. There’s a growing interest in fine art lending among borrowers, lenders and potentially ABS investors.
A pending proposal led by the Federal Reserve could see big banks facing higher capital requirements on their holdings of securities classified as available-for-sale.
The federal government’s new income-driven repayment plan, introduced after the Supreme Court decision, should drive prepayments higher to the benefit of seasoned deals, rating services said.
Ashford Hospitality Trust, a Dallas-based REIT, says handing back the keys on 19 hotels will cut the company’s debt by about $700 million, a reduction of more than 18%.