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Inside MBS & ABS

September 29, 2022

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Angel Oak’s REIT Dismisses CEO as Trouble Brews

Angel Oak, a key player in the non-QM MBS market, is facing financial turbulence. The CEO of its REIT departed suddenly this week and a line of credit it has with Barclays is about to expire. Read More

Securitization Rates Tumble in 2Q22 Flight to Non-Agency

Rising mortgage interest rates increased the market share of jumbo loans, ARMs and expanded-credit mortgages in the second quarter, while the agency market shrank. The result was a downturn in securitization rates. (Includes data chart.) Read More

Banks Boost 2Q22 MBS/ABS Held in Trading Accounts

JPMorgan Chase continued to hold the biggest portfolio of MBS/ABS in trading accounts. Bank holding companies posted a 14.9% increase in agency MBS held in trading accounts. (Includes data chart.) Read More

CMBS Valuation Practices Face Scrutiny Amid Trump Lawsuit

A lawsuit filed by New York’s attorney general against Donald Trump put a spotlight on valuation practices for commercial properties. Commercial MBS participants note that protections are in place regarding potentially inflated appraisals. Read More

Loan Returns Could be Sweet in the S&D Market

For most of 2021 and the year prior, whole-loan prices in the scratch-and-dent market were at a premium. And today? Far from it, says RAMS Mortgage Capital. Read More

Hedging Strategies Key as Fed Reduces Role in MBS Market

Hedging experts recommend to-be-announced strategies for the post-QE world. Read More

Ginnie Moves Closer to the Cloud

The government agency is preparing for its first planned business outage as it moves its entire platform to the cloud. Read More

Rating Services to Revise Criteria for CMBS, SFR Securitizations

DBRS released proposed updates to its North American CMBS Insight Model and multi-borrower rating methodology, and Moody’s proposed revisions to its SFR securitization loan-level legal analysis framework and added transparency on analysis of transaction-level legal risks. Read More

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