SFVegas pushed back to July; commercial MBS delinquencies rise for first time in more than a year; Fannie obtains ratings for older CRTs; Verizon to issue more ABS tied to cellphone payment plans.

A Florida-based investor is touting the profits available from commercial MBS with distressed malls. The trade runs counter to the “mall shorts” that helped generate massive returns for some investors last year.

The House passes legislation to help address legacy contracts for MBS and ABS tied to LIBOR; the SEC expands payment methods for various filing fees; transportation ABS is performing well despite supply chain issues.

Roughly two years ago, a Canadian pension fund bought into SitusAMC. Now, rumors are circulating the entire firm might be up for grabs.

Non-agency MBS hit the market ahead of Thanksgiving; rating upgrades possible with new commercial MBS methodology at Moody’s; timeshare securitization performance stable; Fitch extends comment period for proposed criteria to rate shipping container ABS; California launches tobacco-settlement securitization.

Fannie Mae knows that the loans in its green programs aren’t necessarily super-green, but officials at the GSEs say incremental improvement in existing buildings is a major goal.

While non-agency CMBS and agency multifamily issuance both declined from the second to the third quarter, year-to-date issuance continued to run significantly higher than during the first nine months of 2020. (Includes two data charts.)

Overall, delinquency rates for commercial MBS have improved each month since a peak in June 2020. However, loans tied to office and hotels with an emphasis on corporate travel are slower to recover.

MISMO and SFA are separately working to update the ASF dataset for non-agency MBS; BNY Mellon is offering new agency MBS service; a relatively rare downgrade for commercial MBS.

Despite protests that existing yield maintenance protects investors from prepayment risk on agency CMBS, FHFA directed the Federal Home Loan Banks to limit their exposure.