Production of new collateralized loan obligations as well as reset transactions in the first quarter of 2024 hit the highest level since the market reached all-time highs in 2021.

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

The Ellington Financial affiliate is ditching agency MBS to become a registered closed-end fund with a focus on CLO investments.

CLO issuance is expected to go up in 2024, although securitization of commercial real estate faces persistent problems in the underlying market. (Includes two data tables.)

More punitive capital treatment of commercial real estate under Basel III could prove to be a boon for CMBS issuance.

In 2024, limited liability companies and certain other entities will have to begin reporting beneficial ownership information to the Financial Crimes Enforcement Network. ABS issuers will generally be covered by the requirements but CLO issuers will not.

In addition to a significant increase in CLO refinancing and restructuring, issuance of new CRE deals was up smartly in the third quarter. (Includes two data tables.)

A lawsuit accusing Moody’s and S&P of fraud and negligent misrepresentation in rating auction rate securities in the runup to the 2008 crisis was dismissed by a New York court last week.

Moody’s warned that a government shutdown could lead to a downgrade of its AAA rating for the U.S., Fannie and Freddie plan new social disclosures; DBRS proposes revisions to CLO rating criteria.

The final rule for private fund advisers addressed many concerns of CLO market watchers around compliance burdens. Separately, a federal appeals court held that syndicated term loans aren’t securities.