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Inside MBS & ABS

August 22, 2019

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Chase and BofA Lead Banks in 2Q19 MBS Buying Spree

Nearly all of the banking industry’s growth in residential MBS holdings was in Fannie, Freddie and Ginnie pass-through securities. Read More

Citi the Second Big Bank to Enter the Non-QM MBS Market

Following Chase, Citi is issuing MBS backed by non-QMs. The participation of two big banks is an encouraging sign for the sector. Read More

China Securitization Market Facing Growing Pains

With more transactions given the go-ahead, China’s RMBS and auto loan ABS sectors face new challenges, according to S&P. Read More

In an About-Face, New Rez Decides to Buy Back Common

New Residential Investment Corp. is pulling an about-face, of sorts. After issuing new shares of common earlier in the year, it’s now embarked on a $200 million buyback program. Read More

Credit Card ABS Case Could Upend Industry’s Use of Preemption

A class-action lawsuit against the issuer of a credit card ABS has the potential to eliminate the preemption banks rely on when contributing assets to MBS and ABS. Read More

CHLA Urges Ginnie to Limit Stress Tests to Largest, Riskiest Issuers

Ginnie Mae stress tests should be limited to issuers with largest and riskiest portfolios, the industry group suggested. Read More

New Ginnie Rules to Strengthen Counterparty-Risk Management

Ginnie Mae announced new rating requirements and risk factors to improve and strengthen its oversight of MBS program participants. Read More

Falling Interest Rates Encourage Use of Specified Pools

MBS investors hedge against spiking prepayment speeds by identifying pools of mortgages less likely to refinance. Read More

Mortgage Grapevine: Making Inroads: Consumer ABS Deals / Big Money in the Background

The consumer finance ABS market continues to show signs of life. It helps that “big money” is playing a role behind the scenes. Read More

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