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Inside MBS & ABS

January 5, 2018

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Securitization Market Comes Up a Little Flat at End of 2017, But Some Sectors Posted Gains from Previous Year

In the end, 2017 couldn’t match the huge volume of MBS and ABS generated the year before, a new Inside MBS & ABS analysis reveals. Read More

Lenders Should Revisit and Adjust Repurchase Reserves in Light of GSE Buyback Decline

With Fannie Mae and Freddie Mac buybacks at post-crisis lows, mortgage sellers should reevalu-ate their repurchase reserves for a number of reasons that could impact their business, according to mortgage industry experts. With loan quality significantly improved and underwriting standards tight-ened, many lenders are likely overestimating potential buybacks and carrying excess reserves. Read More

Entity Established by DoubleLine Set to Issue Non-Agency MBS and CMBS, Attract Other Investors to Offerings

DoubleLine Capital, an investment management firm, recently created a new entity with plans to issue non-agency MBS and commercial MBS. These activities will be conducted via the new Mortgage Opportunities Capital, according to filings with the Securities and Exchange Commission. Read More

PennyMac Mortgage Investment Trust Uses Structured Finance Vehicle to Fund Fannie Mae Servicing Rights

PennyMac Mortgage Investment Trust, through three affiliate companies, has entered into a structured deal to finance Fannie Mae mortgage servicing rights and excess servicing spread. Read More

Credit Rating Agencies Are Elevating Their Game, But Room Still Exists for Improvement, SEC Finds

Investors might be seeing better performance from the credit rating agencies these days. In two new reports, the Securities and Exchange Commission says ratings firms are more compliant and are utilizing information technology to a greater extent, all while remaining competitive, especially some of the smaller ones. Read More

Syncora Settles MBS Dispute with Greenpoint; NY Courts Favor Nomura and Barclays in MBS Lawsuits

Syncora Guarantee, Inc., an insurer of structured-finance transactions, has settled a long-running dispute with Greenpoint Mortgage Funding over hundreds of millions of dollars in losses on bundles of soured home-equity mortgages held in trust. Read More

Fees Applied to MBS Trades to Pay for FICC Technology Development Are Set to Expire

Trading MBS will be slightly less expensive this year as the Fixed Income Clearing Corp. is preparing to eliminate a fee it imposed to help pay for technology upgrades. The fee applied to FICC members and generally ranged from $1,000 per month to $20,000 per month based on trading activity. Read More

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