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Inside MBS & ABS

July 8, 2021

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Sagging Agency MBS Weighs on 2Q21 New Securitization

The non-agency MBS market had its best quarter since COVID, including a huge increase in June issuance of prime-jumbo and ECM deals. The agency market, however, was in retreat. (Includes three data charts.) Read More

Fed Won’t be Tapering MBS Purchases Any Time Soon

Despite growing calls to begin the painful process of ending quantitative easing — at least for agency MBS — the FOMC says it’s maintaining its liberal monetary policy for the foreseeable future. Read More

GSEs and Non-Agency MBS Now on Level Playing Field with QMs

The end of the QM patch — thanks to a maneuver by the FHFA and Treasury — could help the non-agency market compete with the GSEs. Read More

CMBS Backed by Extended Stay Hotels Largest of 2021 Thus Far

Blackstone Real Estate Partners and Starwood Capital will be using proceeds from the mortgage loan to acquire Extended Stay America’s portfolio, fund working capital and pay closing costs. Read More

Fannie Helps EU-Based Investors Comply with New Regulations

Fannie Mae is providing a monthly certification that its credit-risk sharing offerings comply with EU securitization requirements. Read More

Regulatory Concerns Weigh on Subprime Auto ABS

Many auto ABS market participants believe subprime lenders will be subject to new laws requiring them to ensure borrowers have the ability to pay. Read More

Two Harbors’ Shift to Internal Management Hits Some Snags

A dispute between Two Harbors and its former external manager will continue in court, with a focus on intellectual property. The REIT’s chief investment officer also abruptly left at the end of the second quarter. Read More

Arbor Realty Completes $1.27 Billion of Securitizations

Arbor Realty Trust closed two deals in June: A $450 million multifamily MBS and an $815 million commercial MBS. Read More

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