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Inside MBS & ABS

July 14, 2022

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Non-Agency MBS Issuance Hit Unevenly in 2Q22 Downturn

A revival in the scratch-and-dent market was a bright spot in non-agency MBS issuance in the second quarter. ECM volume held up better than activity in the prime sector. (Includes three data charts.) Read More

Residential MBS Seen as Attractive Compared with Other Options

Spreads on various types of residential MBS are wider than they were during the early days of the pandemic, suggesting that the assets aren’t particularly attractive to investors. However, that isn’t necessarily true. Read More

ABS Evens Field in Personal Insurance Litigation

Litigation-finance ABS, backed by advances made to injured individuals in litigation, allow plaintiffs to press for larger settlement payouts from insurance companies. Read More

A Counter-Intuitive Move: Enter Non-QM Market

Celebrity Home Loans hired industry veteran Rudy Orman to manage correspondent non-QM loan purchases. The move comes amid turbulence in the market. Read More

Finally Off Its High: The Price of S&D Paper

Not too long ago, the asking price for scratch-and-dent mortgages was considered silly but buyers paid because the returns were strong. And today? It’s a whole different ballgame. Read More

GSEs to Resume Bulk Acquisitions of Seasoned Loans

Fannie Mae and Freddie Mac plan to resume bulk acquisitions of seasoned mortgages from lenders. However, the purchases will be focused on smaller lenders. Read More

Fed’s MBS Holdings Resist Shrinkage

The Federal Reserve’s runoff of Treasuries and agency MBS remains far below expectations. Read More

CLO Managers Tweaking Deals to Attract Investors

CLOs managers are responding to tough market conditions by making changes to their products, for example proposing to remove buckets for discounted assets. Read More

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