After S&P made changes to its insurer risk-based capital adequacy criteria, Arch Capital canceled eight of its mortgage insurance-linked note transactions, citing newly unfavorable capital treatment.

CAS, STACRs, CIRT and ACIS volume were all down sharply during the first nine months as origination volume continued to decline. (Includes data table.)

Ginnie loosens requirements for RPL pooling; Fannie sees tighter spreads with latest CRT issuance; tender offers on outstanding CRT transactions; new ABS issuers; DBRS proposes changes to commercial MBS rating methodology.

New hires at SFA in legal, ABS; commercial MBS delinquencies tick up; VantageScore usage in ABS market increasing; Radian offers insurance-linked note; securitization of residential transition loans; Chase offers non-agency MBS tied to exceptionally old mortgages.

Some credit unions are toying with the idea of selectively trimming their holdings of seasoned residential mortgages. A trend or just a blip in activity?

Fannie Mae and Freddie Mac combined cranked out $3.71 billion in STACRs and CAS notes in the second quarter, an 81.1% jump from the first three months of the year. (Includes data chart.)

Downgrades of GSE CRT transactions, Freddie Mac K-deals and student loan ABS followed a downgrade of the credit rating for the U.S. to AA+.

There’s an MI-linked CRT from Essent, a seasoned CRT from Freddie Mac and a non-agency deal from Jefferies; Goldman to issue commercial MBS with Amazon shipping facilities.

Some fees paid by mortgage insurers for loans included in nonperforming loan sales were not passed through to related credit-risk transfer deals.

Between 2015 and 2022, the private mortgage industry transferred more than $20.8 billion of risk exposure via the issuance of 51 insurance-linked notes through the capital markets.