After playing defense in 2022, investors appear to be willing to deploy capital even as the MBS and ABS markets face numerous headwinds. Attendance at this week’s SFVegas conference hit a record level.

Prime jumbos are unlikely to account for the majority of non-agency MBS issued this year, a first for the products since the time before the financial crisis. Non-QM MBS issuance is holding up better and second-lien securitizations are building some momentum.

Finally, prices are starting to seem (somewhat) reasonable for non-agency whole loans of the non-QM variety. But this applies to recently originated product — where supply is lacking.

Global conflicts top of mind at SFVegas; ESG and credit risk; no housing-finance reform expected when the sun’s out; Ginnie looking to fill COO position; American Car Center’s subprime ABS under review.

AB CarVal Investors and Ares Management are in the market with separate expanded-credit MBS, marking the first time either firm has offered that type of MBS.

SFA and others have asked the SEC to extend the comment period on a proposed rule regarding conflicts of interest in the securitization market; SFA revises TRID grid; Fitch reviews RPL MBS; new ABS with Small Business Act Section 7(a) loans.

Redwood Trust isn’t planning to ramp up acquisitions and sales of prime non-agency mortgages in the near term due to elevated interest rates and strong competition from banks for jumbos.

Ginnie reduces minimum required pool size for HMBS; Ares Management to issue non-QM MBS; S&P extends comment period on triple-net lease changes; Stifel builds out agency MBS unit; commercial MBS issuers urged to consider advertising.

Another marketplace for non-agency loans? Looks that way. But HomeLend wants to tap foreign investors that have a thirst for American mortgages.

An appeals court has awarded ResCap Liquidation Trust nearly $22 million in damages and other expenses in its case against Primary Residential Mortgage.