Money-market and mutual funds continued to invest heavily in the MBS market during the second quarter. Some of the burden may shift to foreign investors, experts suggest. (Includes two data charts.)
The GSEs effectively ended commingling of collateral in Supers securitizations last year. Despite a sharp reduction in the commingling fee, there was only a modest rebound in the practice in the second quarter. (Includes two data charts.)
SFA published best practices for ESG disclosures for residential MBS and auto ABS. The association is starting with a limited number of disclosures and plans to expand the effort.
Issuance of auto ABS in the third quarter of 2023 has topped issuance from the second quarter. Issuers are seeing strong demand from investors despite rising defaults. An auto worker strike is also introducing some uncertainty.
An unsecured debt offering by a mortgage REIT? That’s correct. PennyMac is on the board with a small note deal. Might this be a sign of things to come?
Bank holdings of auto ABS were up in the second quarter due to a big gain at U.S. Bank, while Ameriprise reported a sharp drop in its portfolio of commercial/industrial ABS. (Includes two data charts.)
Although REITs’ total MBS holdings were down in the second quarter, the industry recorded a modest increase in its agency MBS investment portfolio. (Includes two data charts.)