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Inside MBS & ABS

July 22, 2021

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ABS Issuance Falters in 2Q but 2021 on Pace for Big Year

There was no monster ABS in the second quarter that could match a $10 billion airline transaction in the previous period, but year-to-date issuance was well ahead of last year's pace. (Includes two data charts.) Read More

The Ginnie EBO Game Continues Apace. A Strong GOS for Wells

Two essential ingredients to making a tidy profit on Ginnie EBOs include a low cost of funds and a large balance sheet. Wells Fargo has both. Read More

House Democrats Push for Reforms of Credit Rating Practices

One of the five draft bills proposed by the House Democrats this week seeks to establish a board that would be responsible for assigning rating services to provide grades on MBS and ABS. Read More

MBS Trading Sags but a New Benchmark is Born

MBS trading came under pressure last month. But that was before rates dropped. Coming soon: more volatility... Read More

Bundt Cake Franchiser Set to Sweeten Whole-Business ABS

Nothing Bundt Cakes is baking a $359 million whole-business ABS. The bakery franchiser was acquired by Roark Capital earlier this year. Read More

Fannie Pushes Back on FHFA Draft Bulletin on CMBS Risk

Despite various penalties for early prepayments, FHFA believes multifamily MBS issued by Fannie and Freddie present risk for the FHLBanks. Fannie thinks otherwise. Read More

Pandemic Ends Decade-Long NOI Growth in CMBS Properties

If hotel properties are excluded, average NOI declined only 0.7% last year, according to Fitch Ratings. Read More

Ginnie Touts Benefits of New ESG Disclosures for MBS Investors

In a bid to encourage socially responsible investing, Ginnie Mae has made its environmental, social and governance data available to MBS investors. Read More

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