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Inside MBS & ABS

March 25, 2021

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Securitization Claims Higher Share of Mortgage Market

Fannie Mae and Freddie Mac drove a significant increase in mortgage securitization rates in 2020, while jumbo securitization was subdued and expanded credit was hobbled by pandemic upheaval. (Includes data chart.) Read More

Chase Issues its Largest Ever CRT Involving Auto ABS

JPMorgan Chase Bank’s third risk-sharing deal involving auto ABS is based on a reference pool of loans with an unpaid principal balance of $3.98 billion. The loans will remain on the bank’s books. Read More

LoanDepot Quickly Hikes Private Debt Offering

Although rates have been rising, nonbank MBS issuer loanDepot this week took a trip to the corporate debt well, offering seven-year paper. Read More

Life Insurers Boost Holdings Of MBS and ABS in 2020

Top life insurance companies increased their ABS holdings substantially in 2020 and commercial MBS investment was up as well. But residential MBS portfolios declined. (Includes data chart.) Read More

Agency MBS Returns Strong in the First Quarter. Outlook?

Overnight repo rates are exceptionally low and even dipped below zero, helping to reduce funding costs for investments in agency MBS. Read More

Still No LIBOR Alternative for the GSEs’ Legacy ARMs

The Alternative Reference Rates Committee has warned that it may not be in a position to recommend a forward-looking SOFR term rate by mid-2021. Read More

Second mREIT Taps a Receptive Add-On Market

Ares Commercial Real Estate Corp. unveiled a secondary offering of seven million shares of common. Proceeds: $100.6 million. Read More

Grapevine: Rocket, UWM and the Ginnie EBO Arena; $6 Billion on Marketing?

If you want to be a player in Ginnie Mae early buyouts, you’ll need cash, lots of it. But is the window starting to close? Read More

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