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Pandemic Volatility Throttles CLO/CDO Market in 2Q20

New CLO issuance fell sharply from the first quarter of 2020 to the second. Upheaval caused by COVID-19 led to widespread downgrades of borrowers backing CLO deals, though most senior bonds still have a favorable outlook. (Includes data chart.) Read More

Industry Shudders as GSEs Roll Out a 50-Basis-Point LLPA on Refis

A new 50-basis-point fee on GSE refis caught the mortgage industry off guard this week. A big deal or much ado about nothing? Either way, lenders are not happy. Read More

GSE Risk-Transfer Market Nearly Silenced in 2Q20

Neither Fannie nor Freddie issued any new credit-risk-transfer bonds during the second quarter, although Freddie resumed production in July. (Includes data chart.) Read More

GSEs Modify Funding Strategies

Fannie so far has issued $122.23 billion in long-term notes in 2020. That’s almost six times more than in 2019 and more than it issued the past three years combined. Read More

Bipartisan Bid to Create Liquidity Facility for CMBS Borrowers

The HOPE Act seeks to create a liquidity facility for commercial MBS borrowers who weren’t eligible for PPP or MSLP. The bill suggests financial institutions originate Treasury-guaranteed preferred equity instruments to qualified borrowers. Read More

MGIC Moves to Lower Debt Costs, Completes $650M Note Sale

The debt market has been a welcoming place for all sorts of issuers of late. The latest participant: MGIC Investment Corp. Read More

Berkadia Professionals Show Confidence in CRE Market

But another study found income overstatement commonly existed in commercial CMBS underwriting between 2013 and 2019, contributing to the rapid deterioration during the pandemic. Read More

Grapevine: When MBS Issuers Go Public / The Non-QM Revival

Nonbanks dominate the top tier of the MBS issuer rankings — and very few of these shops are publicly traded. Read More

Inside MBS & ABS

August 13, 2020

View Archived Issues

Pandemic Volatility Throttles CLO/CDO Market in 2Q20

Industry Shudders as GSEs Roll Out a 50-Basis-Point LLPA on Refis

GSE Risk-Transfer Market Nearly Silenced in 2Q20

GSEs Modify Funding Strategies

Bipartisan Bid to Create Liquidity Facility for CMBS Borrowers

MGIC Moves to Lower Debt Costs, Completes $650M Note Sale

Berkadia Professionals Show Confidence in CRE Market

Grapevine: When MBS Issuers Go Public / The Non-QM Revival

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Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

Inside MBS & ABS

August 13, 2020

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?