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Inside MBS & ABS

December 23, 2021

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Fitch Tops in RMBS Ratings, S&P Ahead in ABS Market

New rated issuance of ABS rose 10.2% from the second to third quarter, though only Fitch and Kroll upped their activity. (Includes two data charts.) Read More

Private ABS Issuance Occurring Under the Radar

There’s a growing market for ABS where deals are negotiated discreetly between the issuer and a handful of investors. The securities typically don’t receive credit ratings. Read More

McCargo Sworn in as Ginnie President

Alanna McCargo’s appointment marks a new era for the agency, which had been without permanent leadership since 2017. Read More

The Mortgage REIT Outlook: Selected Opportunities in 2022

REITs continue to buy agency MBS but carry a caveat: The sector is shrinking in terms of asset size. Investors who are contrarian at heart might want to start nibbling on some of these stocks. Read More

Court Says CFPB Lawsuit Involving Student Loan ABS Can Proceed

The defendants said the case was not timely and the bureau’s allegations didn’t apply to them because of statutory wording. The judge, using dictionary definitions and SCOTUS precedent, rejected those claims. Read More

Music Royalties Packaged Into $304 Million ABS

The ABS includes royalties for more than 200 songs that hit number one on the charts. However, none of the songs were disclosed in a rating report on the transaction, and only three artists were identified. Read More

One Last Look at 2020 and the Fed’s Market Intervention

It took seven or eight months for primary mortgage rates to reflect the Fed’s massive intervention in the secondary market. Read More

Grapevine: ABS East Attendance; Non-Agency MBS Dynamics

ABS East attendance declined this year; non-agency MBS issuers saw weaker demand in November as supply spiked; GSE g-fees didn’t vary much based on seller size in 2020. Read More

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