The NAIC is expected to drill down on several preliminary proposals covering insurance company investments in securitizations following industry feedback that was critical of the potential guidelines.

The proposed ban, prompted by the 21st Century ROAD to Housing Act, would include exemptions for build-to-rent and build-to-renovate properties.

If there’s an AI bubble that bursts, the impact on the ABS market will largely be contained, according to Fitch Ratings.

In a high-rate environment, debt service coverage ratios determine the size of an agency refinance. Those loans may not be large enough to cover the inflation-driven debt of many multifamily properties.

Insurance companies’ investments in commercial mortgages are focused on higher-risk profiles.

The commercial MBS market continues to offer opportunities for investors willing to actively manage their portfolios.

Off and on since 2013, Egan-Jones Ratings Company has sought certification from the SEC for ratings of ABS. Last week, the SEC denied the latest application from the rating service.

A record $11.35 billion of industrial-property mortgages were securitized in non-agency CMBS during the second quarter. Office properties and multifamily also saw big gains, while agency multifamily MBS production faltered. (Includes two data tables.)

The guidance clarifies that data center securitizations aren’t considered ABS as defined in the Securities Exchange Act.

The ratings service said a “selective, disciplined, transaction-specific approach” is why its single-asset/single-borrower portfolio outperforms ratings by other firms.