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Inside MBS & ABS

July 27, 2023

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Auto Sector Powers Strong Gain in 2Q23 ABS Issuance

Total ABS issuance in the first half of 2023 was running slightly below the level of a year ago, but the key markets — vehicle and business finance — were both up as of the end of June. (Includes two data charts.) Read More

Non-QM Prices Soften a Bit as Rates Rise

Investors are getting pickier on what they’re willing to pay for non-QM paper, at least compared to earlier in the year. Meanwhile, Acra Lending is once again toying with the idea of issuing its own MBS. Read More

Rithm Acquires Consumer Loans; Asset Manager Next

The new acquisitions show that the real estate investment trust is making good on its commitment to expand beyond mortgage investments. Read More

Mortgage Company Accuses Former Executive of Sabotage

Ohio-based Go Mortgage has accused its former director of capital markets of changing passwords to key company accounts and bad-mouthing the company to major counterparties, including the GSEs. Read More

Fed’s MBS Holdings Face Scrutiny, Calls for Sales

According to some critics, the Federal Reserve’s mark-to-market losses on its securities holdings is approaching $1.0 trillion. One option would be to sell off agency MBS, even at a loss. Read More

Some Uncertainty for CMBS Servicers Following Court Decision

The trustee of a commercial MBS has alleged that a master servicer and subservicer failed to monitor rental payments in a lockbox account. Read More

Proceeds From 10,000 Billboards Set for Securitization

Adams Outdoor Advertising has issued similar securitizations, most recently in 2021 and 2018. Read More

Prime ABS Attractive Ahead of Potential Recession

Investment management company Principal Asset Management suggests short duration, high-quality consumer ABS could be in high-demand if a recession hits later this year. Read More

Grapevine: New Capital Standards Proposed; New Non-Agency Issuer

New capital standards proposed for larger banks; CrossCountry Mortgage, Hildene Capital Management join hands on non-agency MBS; LIBOR update; Angelo Gordon boost emphasis on MBS and ABS. Read More

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