Arbor Realty Trust affirms accounting, business practices; Fannie offers new CRT tranche; two ABS issuers under pressure.

Cherry Hill plans to drop its external manager, consider additional strategic options; FHFA publishes historical VantageScore data; Computershare, NewRez receive master servicer ratings; commercial MBS from Morgan Stanley downgraded.

S&P Global Ratings has updated its ratings methodology for data center ABS to better account for property values and insurance risks.

Saluda Grade has acquired a minority stake in commercial real estate investment firm Hillcrest Finance.

Issuance jumped in May and volume year-to-date is well above the level of issuance seen in the first half of 2023. Investor demand has remained strong amid the surge in issuance.

Researchers show that U.S. insurance companies monitor the riskiness of the assets backing their CMBS bonds but they didn’t sell off significant portions of the portfolios.

Delinquency rates on commercial MBS in April hit a level last seen in September 2021. And AAA investors in a commercial MBS suffered a loss this month, a first for deals issued after 2010.

Big increases in securitization of office-property and industrial mortgages lifted non-agency CMBS issuance to $21.9 billion in the first quarter, a 68.6% increase from the prior period. (Includes two data tables.)

Ginnie seeing strong demand from foreign investors; non-QM demand particularly strong in MBS market; McCargo lands at Federal Home Loan Bank of San Francisco; CMBS downgraded.

KBRA found that new multifamily construction could increase risks for MBS concentrated in certain cities.