Despite 15 months of balance sheet reduction, at the current pace, it will still take the Federal Reserve nearly four and a half years to bring its holdings of MBS and Treasuries down to pre-pandemic levels.
Most residential MBS and commercial MBS have limited exposure to the hurricane; the FDIC is working to sell Signature Bank’s $33 billion portfolio of commercial mortgages; DBRS ready to rate residential transition loan MBS; MISMO seeking comments on ESG materials.
The Obama-era task force set up to investigate MBS fraud that contributed to the 2008 crisis has finished its job. Its efforts led the DOJ to collect $36 billion in penalties from banks, originators and rating agencies.
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.