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.
An appeals court has awarded ResCap Liquidation Trust nearly $22 million in damages and other expenses in its case against Primary Residential Mortgage.
Credit Suisse completed the first part of the sale of its securitized products group; tighter pricing for Fannie with latest CRT offering; SEC’s rating service report light on details; retrial in GSE shareholder case set for July; RMF’s planned securitization scuttled.
Can nonbanks become significant players in the HELOC market and ride MBS execution to a new wave of dominance? Due diligence firms that facilitate such transactions hope so.
The proposed rule is meant to prohibit ABS issuers from engaging in “conflicted transactions” that could influence the deal structure in a way that puts their interests ahead of those of investors.
Governance and social risks are the main ESG factors that affect credit ratings of MBS and ABS, while environmental relevance remains low, according to Fitch Ratings.
The FHFA will significantly reduce a controversial fee for comingled securities in UMBS; no consistent trend in delinquencies and losses across MBS and ABS in December; term SOFR not an option as GSEs leave LIBOR behind.
Prices on non-agency MBS took such a hit in 2022 that the market is now gaining popularity with investors, even with the threat of a recession. Still, new issuance in 2023 is expected to come in lower on an annual basis.
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