Six issuers offered expanded-credit MBS in recent days, ending a nearly 30-day pause in issuance. Loans in the deals have seasoned for longer than the turn times seen for prime non-agency MBS.
SFVegas pushed back to July; commercial MBS delinquencies rise for first time in more than a year; Fannie obtains ratings for older CRTs; Verizon to issue more ABS tied to cellphone payment plans.
The Biden administration and Congress need to address some major risks to the housing-finance system, according to the Government Accountability Office. The administration is still developing plans and there’s little urgency in Congress.
The connection between work from home and productivity; Supreme Court blocks vaccine mandate for larger employers; Figure revises bank charter application; parent of Texas Capital Bank launches broker dealer.
New Residential Investment started acquiring single-family rental properties in 2019, and now has enough holdings to complete its first securitization in the sector.