Nonbanks are fueling securitization of home-equity lines-of-credit, closed-end second liens and home equity investments. Issuance jumped in 2023 as refi business dried up. (Includes two data tables.)
Bank holding companies reported a big increase in agency MBS held in trading accounts during the third quarter. The industry also boosted its commercial MBS and ABS holdings. (Includes two data tables.)
Securitization rates increased for GSE-eligible loans, government-insured mortgages and non-agency mortgages. While bank demand for jumbos is declining, the vast majority of the loans don’t go into MBS. (Includes data table.)
The red-hot vehicle ABS market saw intense competition between S&P and Fitch for ratings supremacy. Kroll rode the resurgent ECM MBS market to boost its share of rated issuance. (Includes two data tables.)
Bank holdings of credit-card ABS were the only sector to show an increase in the third quarter as most top players recorded declines in their portfolios. (Includes two data tables.)
CAS, STACRs, CIRT and ACIS volume were all down sharply during the first nine months as origination volume continued to decline. (Includes data table.)
An increase in net expenses in the third quarter cut profits at Fannie Mae and Freddie Mac despite an uptick in revenue for the quarter. (Includes data table.)
Nearly 90% of loan liquidations in Ginnie MBS resulted from borrower payoffs in the third quarter, with most of them linked to MBS issued in 2020 and 2021.
Vehicle ABS issuance reached a record $46.5 billion in the third quarter, and that doesn't count rental-fleet financing. But a sharp decline in auto-dealer floorplan securitization led to a slip in business ABS production. (Includes three data tables.)
RSS