2025 has been a banner year for CLO issuance, mostly from refinance and reset transactions, but bank investment in the sector declined in the third quarter. (Includes data table.)
The $3.46 billion issuance is one of the largest-ever commercial MBS. The data center deal has 10 co-originators including Citi Real Estate Funding, which funded 15.00% of loans in the CMBS.
Impairments on unsecured consumer loans increased the most in Washington, DC, Maryland, and Virginia during October, with borrowers impacted by the partial shutdown of the federal government.
The Fed established the Bank Term Funding Program to help alleviate pressure faced by depository institutions holding MBS and other assets with large unrealized losses. Tracking usage of the BTFP in real-time was limited.
The auto parts maker removed and replaced its independent directors just before it filed for Chapter 11 bankruptcy, a move that is being challenged in court.
Banks increased their holdings of agency MBS during the third quarter, although investment in Ginnie Mae pass-throughs fell. The industry also pulled back a bit from non-agency MBS. (Includes two data tables.)
Securities industry stakeholders say preservation of the secondary mortgage market, especially MBS futures trading on the TBA market, is essential to keeping mortgage rates low.
Formation of GSE Supers securities returned to more normal levels, equaling roughly 56% of Freddie/Fannie uniform MBS production in the third quarter. Ginnie set the pace in agency REMIC issuance. (Includes two data tables.)
The request came from the CRE Finance Council, the Mortgage Bankers Association and the Securities Industry and Financial Markets Association. The groups said the disclosure requirements have negatively impacted the commercial MBS market.
RSS