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Inside MBS & ABS

April 20, 2023

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ABS Bounces Back in Early 2023: Vehicles Hit the Gas

The two biggest components in the ABS market — vehicle and business finance securitization — recorded significant gains from the fourth quarter. Overall issuance was boosted by utilities deals. (Includes two data charts.) Read More

Big Banks Largely Comfortable With Their MBS Holdings

Sure, big banks have sizeable unrealized losses from MBS classified as held-to-maturity. But as long as the banks don’t sell the MBS, the losses remain unrealized. Read More

Loan Trader MIAC Hit With Ransom Demand

MIAC last weekend was the victim of a ransomware attack traced to Russia. The loan trader and asset evaluator did not cave to the demands of hackers, but the incident proved to be a major headache. Read More

Student Loan ABS With Refis Expected to Pick Up

Private student loan refis and ABS issuance linked to the loans look poised to increase after plummeting in 2022. Read More

Single-Family Rental Securitizations Face Challenges

The notion that the single-family rental market can flourish whether the housing market is hot or struggling is being put to the test. Kroll Bond Rating Agency cautioned that upgrades of SFR securitizations will be limited in the near term. Read More

MCT Further Automates TBA Trading for Lenders

The hedge advisor’s automation of the assignment-of-trade process allows lenders to save on bid-ask spreads and increases efficiencies for correspondent investors. Read More

Ginnie Executives Discuss ESG Strategy

Principal Executive Vice President Sam Valverde and Capital Markets Director Richard Perrelli recently discussed ongoing environmental, social and governance efforts for Ginnie’s MBS program. Read More

Grapevine: Ginnie Officials Visit Asia; Chase’s Capital Plans

Ginnie officials meet with government and private finance entities in Taiwan and South Korea; Chase hopes to use securitization to reduce capital requirements; Fitch downgrades PacWest’s credit-risk transfer deal; KBRA gives all clear on bank exposure in non-agency MBS. Read More

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