DBRS continued to rank as the most active rating servicing in non-agency MBS as of the end of the third quarter, with S&P Global leading the industry in ABS ratings, according to a new ranking by Inside MBS & ABS. [Includes two data charts.]
Residential mortgage securitization rates edged higher in the third quarter of 2018 but remained below the peak levels set in the aftermath of the financial crisis. [Includes one data chart.]
Participants in the MBS and ABS market took major steps toward addressing the end of the London Inter-bank Offered Rate. This week, the Structured Finance Industry Group released a draft of best practices for transitioning new issuance away from LIBOR, echoing similar moves by the Al-ternative Reference Rates Committee administered by the Federal Reserve and the New York Fed.
With many consumers shopping at brick-and-mortar stores this holiday season, mortgages on department stores and shopping malls that are included in commercial MBS will likely see good performance in the end of 2018, said DBRS. [Includes one data chart.]
The supply of single-family non-agency MBS continued to decline in the third quarter of 2018, but the sector may be nearing a turnaround point, according to a new Inside MBS & ABS analysis of outstanding mortgage securities. [Includes two data charts.]
Prices for seasoned performing whole loans declined slightly during the third quarter, according to MountainView Financial Solutions. The secondary market for performing/re-performing whole loans has been “extremely active” this year, according to the firm’s residential whole-loan trading desk and transaction advisory teams.
The average daily trading volume in agency MBS fell to $206.4 billion during November, the worst reading since August and the third lowest of the year, according to figures compiled by the Se-curities Industry and Financial Markets Association.
Deutsche Bank, asset managers and investors have agreed to settle their long-running dispute over the bank’s alleged failure to fulfill its obligations as trustee to more than 500 trusts backed by legacy residential MBS valued at more than $570 billion.
Digital mortgage is the cornerstone of Ginnie Mae’s efforts to modernize its operating systems as it vies for industry leadership in technology and innovation, according to top agency executives.
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