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Inside MBS & ABS

March 19, 2020

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Coronavirus Fallout Mounts: Nonbank Ginnie Issuers in the Spotlight

Federal forbearance on government backed mortgages is a panacea to deal with the economic fall-out caused by the novel coronavirus. But eventually there will be implications in the primary and secondary markets. Read More

Coronavirus Could Have Major Impact on MBS/ABS Performance

The performance of MBS and ABS looks likely to suffer, with delinquencies projected to increase and rating downgrades a possibility. Read More

FHFA Presses Pause Button on Rulemaking Due to Virus

As a result of the coronavirus, Federal Housing Finance Agency Director Mark Calabria said the agency will temporarily halt a rulemaking. Read More

The Coronavirus Is Causing Problems for Non-QMs

Investor demand for non-QMs plummeted in recent weeks due to fallout from the coronavirus. Some non-QM lenders have stopped originating loans and others are repricing their products. Read More

Mutuals, Overseas Investors Key MBS Buyers in 4Q19

The Federal Reserve's revived MBS purchase program will likely absorb half of new monthly issuance, crowding out other investors that have carried the market for the past two years. (Includes two data charts.) Read More

DoubleLine Sees Value in MBS and ABS Amid Market Volatility

DoubleLine is boosting investments in securitized products. The firm recently raised close to $1 billion for a fund aimed at MBS and ABS. Read More

Mortgage Rates, MBS and Treasuries

While it may seem the Fed’s actions can directly affect mortgage rates, Wells Fargo analysts said any such effect may get counterbalanced. Read More

FRBNY Outlines Plans to Purchase Agency MBS

The trading desk will purchase both 30-year and 15-year fixed-rate agency MBS. All trades will be conducted through FedTrade. Read More

Bank of New York Mellon No Longer a Ginnie Document Custodian

Bank of New York Mellon is no longer an approved MBS document custodian for Ginnie Mae. Read More

Hotel CMBS Hit Hard by the Coronavirus

Commercial MBS backed by hotel loans are at risk as the coronavirus containment efforts have led to sudden slowdown of mobility. Read More

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