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Inside MBS & ABS

July 25, 2019

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Non-Mortgage ABS Issuance Sees Modest Gain in 2Q19

Vehicle-finance deals remained the backbone of ABS production in the first half of 2019, but transactions backed by consumer loans are a faster-growing segment. Read More

Fitch Praises Ginnie’s Steps To Tackle Counterparty Risk

Ginnie Mae’s counterparty risk measures, including stress testing, are credit positive for the MBS sector but may be daunting for smaller participants, says Fitch Ratings in a new report. Read More

Deephaven Mortgage Readies New Non-QM MBS

Fresh off its sale announcement, Deephaven Mortgage is rolling out a $439.9 million MBS backed mostly by non-QM loans. Meanwhile, with rates falling and originations in the sector remaining strong, other lenders are planning such deals as well. Read More

GSEs Managing Multifamily Caps Amid Low Interest Rates

Fannie and Freddie are struggling to keep their multifamily caps under control in a red-hot apartment market. Meanwhile, life insurers are providing stiff competition. Read More

CECL Accounting Rule to be Delayed

FASB plans to adopt a staggered approach to implement new accounting rules, including one that would require financial institutions to anticipate and estimate future losses as soon as a loan is made. Read More

MBS Trading Brisk in June as the Market Waits for the Fed

June was an exceedingly strong month for MBS activity with the average trading volume reaching $267 billion, according to SIFMA. But next week all eyes will be on the FOMC: Will the central bank hike or not? Read More

Vehicle Sales Concerns Stalk Auto ABS Issuance

The securitizations of auto loans and leases could be adversely affected by an expected decline in vehicle sales, according to rating services. Read More

Mortgage Grapevine: The Pain of Falling Interest Rates / Hedging

With rates continuing to decline, hedging is paramount these days. Meanwhile, certain banks and thrifts are reporting lower MBS holdings. Read More

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