Volatility stemming from bank failures in March put a damper on non-agency MBS issuance. A jumbo deal was pulled and expanded-credit activity slowed.

Acra’s non-QM pipeline is up to $500 million, double what it was a few months back. Angel Oak is seeing improved conditions as well. Better times ahead for these two nonagency stalwarts? Looks that way.

Fannie and Freddie captured a smaller share of the conventional-conforming market last year, and non-agency issuance dropped sharply in the second half. (Includes data chart.)

The SEC’s proposed rule on conflicts of interest in the securitization market is unworkable and unnecessarily broad, according to industry stakeholders.

In the wake of the recent bank failures, bank regulators could likely adjust standards regarding securities held by banks.

The failures of various banks shouldn’t have a significant impact on investors of MBS and ABS, according to rating services.

The Fed won’t alter its plans for runoff in its MBS holdings amid recent bank failures; fate of Select Portfolio Servicing remains unclear.

CRT transactions from Western Alliance Bank and Pacific Western Bank face scrutiny amid bank failures; impairments on unsecured consumer loans in ABS decline; Credit Suisse and what’s to come.

The RMBS rating business nearly ground to a halt in the fourth quarter, but ECM was the place to be in 2022. ABS fared a little better, with business-finance and consumer deals showing relative strength. (Includes two data charts.)

After undertaking drastic leadership changes in December, Chimera is now looking to expand its investments beyond reperforming loans.