The securitization rate for residential mortgages hit an estimated 68.6% in the third quarter, as more conventional-conforming loans flowed into GSE MBS.

In business for 40-plus years, FCI has stuck to its knitting of servicing delinquent and nonprime product. According to management, it’s secret sauce is focusing on state-of-the-art technology, including AI.

Rising mortgage delinquencies increase spreads on residential MBS, as expected, along with spreads on credit card, student loan and auto loan ABS.

While delinquencies are rising across most securitized asset classes, that’s not the case for home equity loans.

The data tape is designed to replace the data tape established by the American Securitization Forum in 2009, providing more standardization to the prime non-agency MBS market.

Associated Banc-Corp will take a loss in the fourth quarter; Chase packages seasoned jumbos in non-agency MBS; Octane Lending expands ABS issuance; another whole-business ABS from Jersey Mike’s.

Growth in securitizations of home equity loans slowed in the third quarter from an exponential pace earlier in the year. Still, issuance was up, with Rocket leading the way. (Includes two data tables.)

Acra Lending is just one of many businesses that are controlled by New York investment giant HPS. But now that BlackRock is buying HPS, what might the future hold for the non-QM lender/servicer?

Delinquencies have hampered performance in newer vintage prime non-agency MBS.

ABS receive no-action relief on Rule 15c2-11 reporting; Ellington Management Group to securitize closed-end second liens.