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Inside MBS & ABS

September 24, 2020

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Fed's 2Q MBS Buying Spree Pushes Other Investors Out

Foreign investors, mutual funds and pension accounts all gave way to the massive $550 billion increase in the Federal Reserve's MBS holdings. But depository institution portfolios managed to keep growing. (Includes three data charts.) Read More

Investor Demand for Non-QM MBS at Pre-Pandemic Levels

Demand for non-QM MBS has returned to pre-pandemic levels even though the deals include a significant amount of loans in forbearance and fewer protections for investors. Read More

Lawmakers Seek Treasury, Fed Assistance for CMBS

But that’s easier said than done. The CMBS structure prohibits borrowers from taking on additional debt and includes a prepayment penalty clause, Federal Reserve Chair Jerome Powell pointed out. Read More

FHFA Chief Faces Heat from Republicans in House Hearing

Much of the criticism from the GOP concerned the re-proposed capital rule for Fannie Mae and Freddie Mac, which will reduce the capital relief the GSEs receive for credit-risk transfers. Read More

SitusAMC Strikes a Deal for CMBS Servicer Cohen

Now may not be the best time to expand in the commercial MBS space, but SitusAMC has bought the assets of Cohen Financial. A contrarian play? Read More

Raking in the Dough, PFSI Taps the Debt Market

Another day and another debt offering by a mortgage company. This time around the issuer is PennyMac Financial, a top-ranked Ginnie Mae issuer. Read More

California Allows Electric Utilities to Securitize Undercollections

With revenue lower than expected due to the coronavirus pandemic, California is allowing electric utilities to use securitization to avoid sharp rate increases for customers. Read More

Starting Next Year, Ginnie to Ban LIBOR-Indexed ARMs

Ginnie Mae said it is ready to facilitate the creation of a single-class MBS backed by ARMs linked to the Secured Overnight Financing Rate. Read More

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