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Inside MBS & ABS

October 3, 2019

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Agencies Pull MBS/ABS Issuance to 11-Year High

Although agency business faltered slightly in September, Fannie, Freddie and Ginnie drove the ABS/MBS market to a whopping $542 billion in new issuance during the third quarter. (Includes three data charts.) Read More

Warren Raises Concerns over Issuer-Pays Credit Rating

Presidential candidate Elizabeth Warren has flagged concerns about the issuer-pays model used by credit rating agencies for securitized products. She said the SEC hasn’t done enough to address the conflicts of interest tied to the model. Read More

Investors Favor Whole Loans to Non-Agency MBS

Some investors prefer buying non-agency mortgages via whole loan transactions rather than stocked in MBS. Whole loans offer better yields and more loan information. Read More

Fannie and Freddie Will Need Investors. Is Buffett in the Wings?

One of these days, Fannie and Freddie will need to raise capital by selling stock. Rumor has it that institutional investors are already being courted, including Berkshire Hathaway. Read More

Figure to Issue HELOC-backed ABS Using Blockchain

The San Francisco-based lender is prepping a $200 million ABS stocked with home-equity lines of credit originated using blockchain technology. Read More

Housing-Finance Sector at Risk from Climate Change

Economists say an increase of 1 degree Celsius in a county’s 36-month average temperature reduces the mortgage approval rate in the county by about 0.9% and the average loan amount by 6.9%. Read More

Co-Working Model May Pose Risk to Commercial MBS

After WeWork’s failed initial public offering, investors are questioning the risk a co-working model poses to commercial MBS. Read More

Court Reinstates Conviction of Former Nomura Trader

The Second Circuit has reinstated the conviction of Michael Gramins, a former trader at Nomura Securities, on charges of conspiracy. Read More

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