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Inside MBS & ABS

December 20, 2018

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Securitization Rates Nudge Higher in 3Q18 as MBS Issuance Catches Up with Primary Market

Residential mortgage securitization rates edged higher in the third quarter of 2018 but remained below the peak levels set in the aftermath of the financial crisis. [Includes one data chart.] Read More

PIMCO Rumored to be Planning a Multi-Billion Dollar Securitization of Whole Loans

Over the past two weeks, the whole-loan market has been rife with rumors that bond giant PIMCO is working on a massive securitization deal. And as usual, the company is tight-lipped about its plans. Read More

DBRS Ranked Tops in Non-Agency MBS Ratings at 9-Month Mark in 2018, S&P First in ABS

DBRS continued to rank as the most active rating servicing in non-agency MBS as of the end of the third quarter, with S&P Global leading the industry in ABS ratings, according to a new ranking by Inside MBS & ABS. [Includes two data charts.] Read More

Analysts Positive on VA’s Interim Rule on Cash-Out Refinancing but Fear Loopholes Could Inflict Harm

The Department of Veteran Affairs’ interim final rule on cash-out refinancing appears to be a positive move for borrowers and investors, especially for higher coupon MBS but potential loopholes could seriously weaken it, analysts warned. Read More

Clean-Up Calls to Benefit Auto ABS Issuers and Investors; Seasoned Loans Go into New Issuance

Issuers of auto ABS will likely continue to complete clean-up calls on seasoned transactions even in a rising interest-rate environment, according to S&P Global Ratings. The rating service said clean-up calls yield a positive impact for auto ABS issuers and investors. Read More

Securitization Industry Makes Plans to Move Away from LIBOR, Looks to SOFR

Participants in the MBS and ABS market took major steps toward addressing the end of the London Inter-bank Offered Rate. This week, the Structured Finance Industry Group released a draft of best practices for transitioning new issuance away from LIBOR, echoing similar moves by the Al-ternative Reference Rates Committee administered by the Federal Reserve and the New York Fed. Read More

Commercial MBS to Gain as Holiday Shoppers Flock to Brick-and-Mortar Stores, Says DBRS

With many consumers shopping at brick-and-mortar stores this holiday season, mortgages on department stores and shopping malls that are included in commercial MBS will likely see good performance in the end of 2018, said DBRS. [Includes one data chart.] Read More

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