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Inside MBS & ABS

October 24, 2019

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CMBS Issuance Strengthens in 3Q, Fed by Multifamily

Most of the increased production in the third quarter came in agency multifamily MBS, and it remains to be seen whether new caps on Fannie and Freddie significantly reduce their footprint in the market. (Includes data chart.) Read More

FHFA’s Calabria Willing to Wipe Out GSE Shareholders

Amid criticism from lawmakers that releasing Fannie Mae and Freddie Mac from federal control might enrich hedge funds, Federal Housing Finance Agency Director Mark Calabria said he is willing to wipe out the shareholders to protect taxpayers from another GSE bailout. Read More

MBS Trading Volume Hits High for the Year

The average daily trading volume in agency MBS spiked to a yearly high in September. But what will the Fed do next regarding rates? Read More

Fitch Scoring ‘ESG’ Factors for Rating MBS and ABS

Fitch is including environmental, social and governance relevance scores as part of its ratings of securitized products. The scores help assess sustainability and ethics though they aren’t a major factor in credit ratings. Read More

CMBS Investors Target Purchase-Option Abuses by Servicers

After facing some legal setbacks, investors in commercial MBS have adjusted their tactics in an effort to prevent abuses of the ability special servicers have to purchase loans out of commercial MBS. Read More

S&P Sees No Impact of Usury Lawsuit vs Capital One, JPM

Standard & Poor’s said its ratings of credit card ABS issued by Capital One and JPMorgan Chase will not be affected by the lawsuits filed against the lenders for allegedly violating New York’s usury laws. Read More

Excess Supply a Concern for Senior Housing Securitization

Commercial MBS backed by retirement properties could see a rise in delinquencies due to excess supply in the senior housing market, according to a new report by Kroll Bond Rating Agency. Read More

New Australian RMBS Features Senior Tranche in USD

An Australian nonbank lender is prepping a residential MBS deal with part of its senior tranche denominated in U.S. dollars. It is not the first time the nonbank has done so. Read More

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