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Inside MBS & ABS

March 23, 2018

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GSEs See Rapid Growth of High-DTI Loans Following Automated Underwriting Tweak in 2017; MIs Balk

Fannie Mae adjusted its automated underwriting services last summer to make more loans with higher debt-to-income ratios eligible for approval without lenders needing to provide compensating factors. Read More

DBRS Tops in Non-Agency MBS Ratings; S&P Surged Further Ahead in ABS Market

DBRS took over as the top rating service in the non-agency MBS market last year, as more deals carried multiple ratings in 2017, according to a new Inside MBS & ABS ranking. Read More

Angel Oak Issues MBS Backed by Fix-and-Flip Loans, Rating Services Developing Criteria for Such Deals

Angel Oak Capital Advisors recently issued its first MBS backed by fix-and-flip loans. The firm plans regular issuance of such deals, which could receive credit ratings once the rating services develop criteria for them. Read More

Fitch Proposes Incorporating Servicer Quality in Non-Agency MBS Loss Modeling and Increasing Credit for Certain RPLs

Fitch Ratings recently proposed changes to its loss model criteria for non-agency MBS involving servicer quality and the performance of re-performing loans. Read More

Rating Services Say Senate Bill Would Reduce Uncertainty Around PACE ABS

The regulatory relief bill recently passed by the Senate would reduce uncertainty for future ABS tied to Property Assessed Clean Energy financing programs, rating services said. Read More

BAML: Washington Appears to be Settling Into a Status Quo Thought Process When It Comes to GSE Reform

Housing-finance reform appears to be in the process of a slow death for 2018 partly because of the pending departure of key players, according to Bank of America Merrill Lynch analysts. Read More

New Fannie/Freddie Lawsuits Filed in Federal Claims Court Argue Against Treasury Sweep

More Fannie Mae and Freddie Mac shareholders have initiated lawsuits against the government for the Treasury sweep of the mortgage giants’ profits. Read More

Securitization Rates Edged Higher in 2017, Non-Agency Market Is Still Moribund

A slightly higher share of new single-family mortgages found their way into MBS pools last year, according to a new Inside MBS & ABS analysis. Read More

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