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Inside MBS & ABS

December 9, 2021

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REIT MBS Holdings Ebb in 3Q21, Annaly Extends Lead

REITs are generally optimistic about the Federal Reserve's plan to slow its MBS purchases, a number of companies continue to pursue other strategies. (Includes data chart.) Read More

Securitization Rate Declines as Agency Footprint Shrinks

Securitization rates drifted lower in the third quarter in most segments of the mortgage market, and primary-market originations of agency-eligible loans declined. (Includes data chart.) Read More

MBS Prepayment Speeds Decline in November

Analysts at Keefe, Bruyette & Woods expect prepayment rates on agency MBS to decline further in 2022 as fewer borrowers have incentives to refi. Read More

Blackstone Charts New Securitization Strategy for Non-Agency Loans

The latest MBS from Blackstone includes non-agency mortgages for investment properties from various lenders. The firm’s pre-pandemic non-agency MBS were backed by loans from Finance of America. Read More

Ginnie EBOs Starting to Look a Bit Rich

The “easy money” may be over in the Ginnie early buyout space. Some bidders are paying north of 102 for product. Read More

MBS-Investing REIT Giants Lag but For How Long?

The mega REITs could be poised for a rebound in share price. Credit, in part, the Federal Reserve? Read More

Fannie Closes Its Largest CIRT Deal of the Year

Fannie Mae’s latest credit insurance-risk transfer transaction included 20 reinsurers taking on $31.7 billion in unpaid principal balance. Read More

Credit Rating Services Outline Climate Risks

Fitch and DBRS released reports outlining the risks, physical or otherwise, of climate change to MBS and ABS. They said impacts varied by area and that vigorous policy efforts could help stem losses. Read More

Grapevine: House Approves LIBOR Fix; A New Way to Pay the SEC

The House passes legislation to help address legacy contracts for MBS and ABS tied to LIBOR; the SEC expands payment methods for various filing fees; transportation ABS is performing well despite supply chain issues. Read More

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