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Inside MBS & ABS

November 2, 2023

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Agency Single-Family MBS Production Slumping Toward Winter

Mortgage rates at the end of October were at their highest level since 2000, and agency MBS issuance fell 10%. It’s looking like a replay of the nosedive at the end of last year. (Includes two data tables.) Read More

Tough Environment for Investing in Agency MBS

Spreads on agency MBS widened during the third quarter, leading to a decline in values for agency MBS holdings. Still, investors stress that agency MBS is an attractive investment option. Read More

House Lawmakers Call on SEC to Rein in Proposal

A 25-member bipartisan House group has called on the SEC to revise its proposed rule on conflicts of interest in the securitization market. The lawmakers said the SEC, in making the rule, went well beyond what was required by the Dodd-Frank Act. Read More

GSE Earnings Decline in 3Q; Mortgage Holdings Down

An increase in net expenses in the third quarter cut profits at Fannie Mae and Freddie Mac despite an uptick in revenue for the quarter. (Includes data table.) Read More

Redwood’s Jumbo Business Up Thanks to Banks

Redwood Trust has increased its partnerships with banks as it expands its jumbo mortgage acquisitions in the third quarter. Read More

Ally to Re-Issue Auto ABS After Private Offering

The new ABS, comprised of prime auto loans, is a portion of a security Ally privately issued in March. Ratings firms said the deal had a weaker pool composition than previous Ally securitizations. Read More

Music Royalty Investor Sees Benefits in ABS Issuance

Concord Music Group issued its second ABS last week. Concord CEO said issuing an ABS was complicated but worth the effort. Read More

Harvest Sees Higher Rating With Latest SBA ABS

Harvest Small Business Finance is set to issue an ABS tied to the unguaranteed portion of Small Business Administration loans. Read More

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