Cart

Inside MBS & ABS

April 13, 2023

View Archived Issues

RMBS Issuance Rallies with 1Q23 Gains in Major Sectors

Issuance of all the major RMBS products rose significantly in the first quarter of 2023, although average seasoning in the deals was higher. Subordination levels in ECM deals rose as investor demand weakened and collateral trended riskier. (Includes three data charts.) Read More

Non-Agency MBS Falters After Bank Failures

Volatility stemming from bank failures in March put a damper on non-agency MBS issuance. A jumbo deal was pulled and expanded-credit activity slowed. Read More

Things Looking Up for Non-QM Shops Acra and Angel Oak

Acra’s non-QM pipeline is up to $500 million, double what it was a few months back. Angel Oak is seeing improved conditions as well. Better times ahead for these two nonagency stalwarts? Looks that way. Read More

Securitization Rates Lower as RMBS Issuance Slumps

Fannie and Freddie captured a smaller share of the conventional-conforming market last year, and non-agency issuance dropped sharply in the second half. (Includes data chart.) Read More

Federal Reserve to Streamline MBS Holdings

FRBNY plans to consolidate SOMA’s agency MBS holdings. However, the dollar value and composition of those holdings will not change. Read More

Challenges for GSEs’ New Social Index

Despite privacy issues, industry stakeholders said Fannie’s and Freddie’s social bond disclosures should provide more granular data. Read More

KBRA Says Music Royalty ABS Poised to Grow

Issuance of ABS backed by music royalties will continue to grow, according to KBRA. Also, streaming royalty rates, a large share of music catalog revenues, are expected to increase in coming years. Read More

Market Uncertainty Upsetting MBS Prepayment Models

The two most significant forecasting models for MBS prepayments are struggling under the weight of the COVID-19 pandemic and the recent bank failures, according to a new TCW report. Read More

Private-Label Conduit Issuance Slows in March

Activity in the commercial MBS space will pick up again in the months ahead, said analysts. Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results