Cart

Inside MBS & ABS

August 5, 2021

View Archived Issues

Agency MBS Issuance Down in July Despite Ginnie Gain

Refinance loans accounted for less than half of the collateral securitized in agency MBS in July for the first time in nearly two years. (Includes two data charts.) Read More

GSEs Shrink Portfolio, See Earnings Soar on Refi Fee

Purchases of refinance loans since December 2020 generated roughly $6.6 billion in adverse market refi fees for Fannie and Freddie, boosting them to a seven-year high in net income in the second quarter. (Includes data chart.) Read More

Investment-Property Share of Non-Agency MBS Issuance Soaring

With new restrictions on GSE sales, lenders are increasingly turning to the non-agency MBS market to sell mortgages for investment properties. Issuers include new and established participants. Read More

MBS-Investing REITs Shrink in Face of Deleveraging, Capital Loss

Why compete against the Fed for agency MBS? Sometimes, shrinking is a better strategy, which is what the mega "mREITs" are doing. Read More

Term SOFR Reaches a Key Benchmark, Still Some Uncertainty for MBS and ABS

Late last month, inter-dealer brokers began using SOFR for dollar swaps, allowing ARRC to finally recommend use of Term SOFR.  Read More

Ginnie Mae MBS Buyout Practices Vary Among Banks, Nonbanks

It’s easier for banks to complete buyouts of mortgages from Ginnie MBS than nonbanks due to banks’ funding advantages. Nonbanks are also increasingly modifying mortgages rather than offering partial claims.  Read More

Commercial MBS Tied to KinderCare Centers Hits Market

KinderCare is the largest for-profit childhood education provider in the country. The CMBS is being issued by National Realty Trust, which received a mortgage on 549 properties where KinderCare operates. Read More

Widespread Improvements to Delinquencies in Commercial MBS

The commercial MBS delinquency rate continued its downward movement for the 13th month in a row. Nearly all sectors of the market showed improvements on a monthly basis in July.  Read More

Invitation Homes Cuts Deal with Pulte, Floats More Debt

The SFR giant is gearing up to buy thousands of newly constructed homes, which means it’s headed to the capital markets to finance the maneuver. Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results