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Inside MBS & ABS

June 22, 2023

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Securitization Rates Tumble as Originations Keep Sliding

Ginnie Mae MBS issuance finally caught up to sharp declines in primary-market originations, while ECM securitization was buoyed by more-seasoned loans. Read More

Banks Pile Up MBS/ABS in Trading Accounts in 1Q23

The biggest gain was in agency single-family MBS, as several large bank holding companies boosted their trading portfolios by $1 billion or more during the first quarter. Read More

Fed’s BTFP Helping Banks Avoid MBS Sales at a Loss

The Bank Term Funding Program has issued more than $100 billion in outstanding funding tied to agency MBS and Treasury securities held by banks. Read More

SEC Willing to Scale Back Some of Conflicts Proposal

SEC staff are considering revisions to a proposed rule that would prohibit conflicts of interest in the securitization market. But the agency reportedly won’t budge on some portions of the rule. Read More

Securitization of Seconds Picks Up: The JPM Factor

It’s starting to look like a boom of sorts in the securitization of second mortgages, especially with JPMorgan taking a keen interest. Read More

Economists Debate Impact Climate Change Has on MBS

The rounding of home prices in HMDA data complicates the calculation of whether loans below the conforming loan limits are more likely to be securitized into agency MBS in areas affected by climate change. Read More

Minimal Issues Expected in LIBOR/SOFR Transition

Most impacted securities have already made the transition from the London Interbank Offered Rate. S&P expects the LIBOR Act will minimize the risk on the remainder. Read More

New Issuance in Prime Auto, Communications Networks

Reverse mortgage originations are not immune to the impacts of elevated interest rates, a DBRS Morningstar analyst notes. Read More

Reverse Mortgage Originations Could Slow Amid Higher Rates

Reverse mortgage originations are not immune to the impacts of elevated interest rates, a DBRS Morningstar analyst notes. Read More

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