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Inside MBS & ABS

June 3, 2021

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Agency Market Tumbles in May; IPLs Move Elsewhere

It's no surprise that the massive agency refinance boom showed signs of fizzling out, but purchase-mortgage business slumped just as housing season rolled into high gear. (Includes two data charts.) Read More

Fitch Raises Concerns on Data Center ABS Ratings by ‘Others’

Data center securitizations issued in recent years carry elevated leverage that is inconsistent with the A rating they received from rating services other than Fitch. Read More

Will Cryptocurrency Turn Into its Own Asset Class?

The cryptocurrency market, worth over $2 trillion, is on the cusp of becoming its own asset class. But there are still plenty of naysayers who believe something backed by real assets will replace the virtual currency. Read More

Declining Potential for Ginnie Mae EBOs? Maybe, Maybe Not

Investing in Ginnie Mae EBOs has been a profitable maneuver but with the forbearance picture improving, finding product to buy could get harder. Read More

Issuance of MBS with Newer Non-QMs Trudging Forward

Two securitizations brought to the market in May were stocked with recently originated non-qualified mortgages as issuers continue to plow their way through the remainder of the pandemic. Read More

Fitch Sees Strong Growth for Green Issuance by Nonbanks

The drawbacks for issuers: liability and reputational risk from overstating the environmental impact of the activities financed by green bonds. Read More

More Corporate Debt Deals as the Window Remains Open

As rates stay low, the corporate debt issuance boom continues but recent deals may be among the last for a while until real estate market values become clearer. Read More

Grapevine: Thank You FHFA, Nice Profits?

One originator of investor loans calls the profits “sweet,” though he’s not too sure why the FHFA did what it did. Read More

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