The biggest gain in bank MBS investment over the past year was in agency pass-throughs, up 11.4% from December 2018, although holdings of non-agency securities also climbed 7.4%. (Includes two data charts.)
Two prominent GSE multifamily lenders cut production in the fourth quarter as they adjusted to the new investment limits set for Fannie and Freddie. The new caps are unlikely to constrain GSE business in 2020.
JPMorgan Chase has issued its first ABS transaction backed by credit card receivables through Chase Issuance Trust since May 2018. A wildcard to the deal, however, is a pending lawsuit involving the issuance trust.