Fed stays course on MBS sales; SFA close to revising data tape for prime non-agency MBS; MBS on watch for rating upgrades by Fitch; subprime auto ABS impairments rise; commercial MBS delinquencies decline; Fannie sees tighter spreads for latest CRT; Morningstar not ready to give positive commercial MBS credit for “mass timber” construction.

Declining multifamily valuations are pushing up capitalization rates while reducing debt service coverage ratios.

The new Mission Index will be used to determine which single-family MBS can be designated social bonds.

Barbara Cooper-Jones, Ginnie Mae’s soon-to-be-retiring tech senior vice present, expresses concerns surrounding staffing and funding at the agency.

MBS prices staged a nice turnaround in the fourth quarter but trading volume weakened in December. A stronger-than-anticipated jobs report in early January sent rates northward but not terribly.

Agency mortgage securitizations can cause riskier behaviors from bank mortgage lenders and potentially lead to bank runs on deposits, according to a new research paper from the Federal Reserve.

The $500 million deal from CU Capital Market Solutions is tied to deposit insurance from the National Credit Union Administration.

Bank of America issued a resecuritization this week tied to a 2017 multifamily K-deal. It’s the first rated issuance of its kind from BofA since 2016. The new resecuritization received an A- rating.

Nonbanks are fueling securitization of home-equity lines-of-credit, closed-end second liens and home equity investments. Issuance jumped in 2023 as refi business dried up. (Includes two data tables.)

Participants in the MBS and ABS market have widespread concerns about a proposal to adjust capital requirements for large banks. They argue that the proposed capital requirements are unnecessarily high.