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Inside MBS & ABS

March 4, 2021

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Agency MBS Issuance off in February, Volume Still High

February marked the fifth month in a row when agency MBS issuance topped $300 billion. Although purchase-mortgage business fell significantly, refi remained strong. (Includes two data charts.) Read More

Goldman: Long-Term Returns on Agency MBS Could Go Negative

The Federal Reserve wants to continue buying agency MBS at its current pace, which should keep rates and spreads down for the foreseeable future. Read More

Powell Says Legislation Necessary to Help with LIBOR Transition

The Structured Finance Association is working with members of Congress on a potential bill to help facilitate the transition away from the scandal-scarred LIBOR. Read More

CFPB Proposes Keeping GSE QM Patch in Place through Sept 2022

The CFPB proposed extending the GSE “patch” through September 2022 while new leadership at the regulator considers revisions to the general QM standards. Read More

Fannie to Issue MBS Backed by Forborne RPL

The government-sponsored enterprise plans to issue $3 billion to $5 billion in MBS based on pools of reperforming loans with principal forbearance this year. Read More

A Rare Feat These Days: mREIT Dynex Sells Common

There was a time when REITs had no problem pitching secondary offerings of stock but the pandemic ended all that. Enter Dynex Capital... Read More

Auto ABS Weather COVID Crisis Better Than 2008 Crash

Auto ABS issuance dropped 9% in COVID-marred 2020, compared with a 40% decline seen during the 2007-2009 crisis, according to S&P. Read More

S&P Says Student Loan ABS Could See More Downgrades

COVID-19-related payment relief plans continued to put pressure on student loan ABS. S&P recently lowered its ratings on many FFELP student loan ABS maturing in the next three years to speculative grade. Read More

Grapevine: A New Benchmark; UWM CEO Takes Aim

All hail a new mortgage benchmark. Meanwhile, a CEO takes aim at some competitors. Read More

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