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Inside MBS & ABS

October 12, 2023

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Non-Agency MBS Issuance Gains Momentum in 3Q23

Although new issuance of NPL/RPL deals continues to decline, production of non-agency MBS backed by newly originated loans rose smartly in the third quarter, along with gains in securitization of home-equity products. (Includes three data charts.) Read More

Buyback Requests Brewing in Non-QM Market

Loan buyback demands don’t seem to be an issue in the world of non-QM lending, at least not yet. But that could change, especially for low-capital originators who get swamped by aggregator demands, even on performing mortgages. Read More

Fed Vows More Scrutiny of Banks’ Interest Rate Risk

Federal Reserve examiners didn’t do enough to prevent the failure of Silicon Valley Bank, according to the Fed’s IG. Now, the Fed is working to address interest rate risk tied to bank holdings of MBS and ABS. Read More

New York Court Ruling Impacts MBS Clean-Up Call Practices

In a case that could have far-reaching effects on MBS investors, a New York judge ordered a servicer to recalculate clean-up call termination prices to include deferred payments. Read More

Supreme Court Hears Case Brought by CMBS Analyst

The case against UBS Securities will determine whether the antiretaliation provision of the Sarbanes-Oxley Act requires a whistleblower to prove “retaliatory intent.” Read More

Andrew Davidson Launches Climate Risk Assessment Tool

The Climate Impact Suite will allow whole-loan investors to assess expected losses due to climate risk. Read More

DBRS Gives More Credit to Private MI in MBS Analysis

Revised rating methodologies by DBRS and other rating services could lead to mortgages with private MI going into non-agency MBS. Read More

Grapevine: New Flexibility at Ginnie for RPLs; GSE CRT

Ginnie loosens requirements for RPL pooling; Fannie sees tighter spreads with latest CRT issuance; tender offers on outstanding CRT transactions; new ABS issuers; DBRS proposes changes to commercial MBS rating methodology. Read More

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