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Inside MBS & ABS

October 13, 2022

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Non-Agency MBS Market Thuds to Ground in 3Q22

Production of non-agency MBS suffered a third-straight sharp decline in quarterly issuance. The biggest hit was in the prime RMBS sector, where jumbo securitization dropped and GSE-eligible activity nearly disappeared. Read More

Ambac, BofA Settle Non-Agency MBS Lawsuit for $1.8 Billion

A trial that started in September after years of delays ended with a settlement. Bank of America agreed to pay $1.84 billion to settle claims tied to non-agency MBS issued by Countrywide Financial prior to the 2008 financial crisis. Read More

MBS REITs Seek to Calm Investors’ Nerves

AGNC Investment and Annaly Capital Management provided preliminary third-quarter results this week. Book value declined and leverage increased on a sequential basis. Read More

Sprout Mortgage Still Active in the Secondary Market

The Sprout Mortgage saga continues. Word on the street is that the now-defunct company is looking to sell off somewhat seasoned loans with a UPB of roughly $320 million. Read More

Angel Oak REIT Lines Up New Financing

Angel Oak’s REIT saw its share price fall to a 52-week low of $8.73 a unit this week. The problem? Rising rates and a tough whole-loan market. Still, the non-agency MBS player has secured new financing. Read More

Auto ABS Shielded From Hurricane Ian-Related Losses

Although the storm primarily caused flooding, auto ABS transactions are protected from extensive losses because of their robust structures and credit enhancement, S&P said. Read More

Consumer Loan ABS Performance Not a Leading Indicator

High impairments and low cure rates in consumer loan ABS aren’t a sign of similar underperformance in other sectors, according to dv01. Read More

Grapevine: SFA Revising TRID Grid; Timeshare ABS and Hurricane Ian

SFA is seeking feedback on revisions to TRID Grid for residential MBS; timeshare ABS properties and borrowers are under evaluation following Hurricane Ian. Read More

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