A court ruling in California may have far-reaching consequences for the way non-agency MBS clean-up call prices are calculated.

The rating service will assess expected payments from private mortgage insurers, with implications for MI-linked note issuance and potentially non-agency MBS with loans that have private MI.

SPS, inherited by UBS when it purchased Credit Suisse in June, has been placed into a “bad bank,” sources indicate.

Downgrades of GSE CRT transactions, Freddie Mac K-deals and student loan ABS followed a downgrade of the credit rating for the U.S. to AA+.

DBRS said it’s in talks with the SEC to resolve a potential enforcement action related to its compliance with recordkeeping requirements.

SEC exempts MBS and ABS issuers from cybersecurity disclosure requirements; plethora of novel ABS issuance; student loan ABS defaults hit record high.

If the proposal is implemented, some mortgage originations that have gone into bank portfolios would likely go into MBS instead. The impact on bank investment in MBS and ABS looks to be much more modest.

In a reversal of strategy, regional banks plan to place as much as 70% of their mortgage originations in the secondary market.

There’s an MI-linked CRT from Essent, a seasoned CRT from Freddie Mac and a non-agency deal from Jefferies; Goldman to issue commercial MBS with Amazon shipping facilities.

Investors are getting pickier on what they’re willing to pay for non-QM paper, at least compared to earlier in the year. Meanwhile, Acra Lending is once again toying with the idea of issuing its own MBS.