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Inside MBS & ABS

December 14, 2023

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Ginnie Again Posts Biggest Gain in Outstanding MBS

Ginnie remained the fastest growing player in the MBS market in the third quarter. Mutual funds, money-market funds and insurance companies continue to play important roles in demand for single-family MBS. (Includes two data tables.) Read More

Ginnie Seeks Replacement for SVP Cooper-Jones

Finding a replacement, though, is going to be a tall order given that Ginnie Mae has pay restrictions. Read More

Figure Closes Out Year with Two HELOC Securitizations

Figure is expected to issue its third HELOC MBS of 2023 and will provide loans to an upcoming Saluda Grade issuance. Read More

Citi Returns to Credit Card ABS Market After 5 Years

Citibank this week issued two credit card securitizations totaling $1.5 billion. The bank’s last credit card deal was in October 2018. Read More

Decent Prices for Debt Issued by Residential REITs

If you’re looking for positives in the residential REIT sector, take a peek at how their debt is trading these days — most north of 90 cents on the dollar. Credit belongs to lower interest rates. Read More

Ginnie’s Assets Swell in 2023 With RMF’s HECMs

Both assets and liabilities at Ginnie Mae jumped when the agency took over HECMs from the failed Reverse Mortgage Funding. Still, Ginnie extended a streak of increasing cash on hand. Read More

Pay-Ups Improve Profitability of Small-Balance Loans

A significant portion of the net revenue lenders earn on small-balance loans can be attributed to the premiums investors pay for specified pools, according to an analysis by Fannie Mae. Read More

Corporate ABS to Perform Well in 2024

Equipment ABS and other types of corporate securitizations should hold up well, even in the face of an economic slowdown, according to projections by Moody’s Investors Service. Read More

Grapevine: FDIC Member Floats Endgame Delay; Ginnie Updates

FDIC member suggests delaying capital requirements; Ginnie strengthens reporting requirements for nonbanks; confusion on Mr. Cooper’s reporting to Ginnie MBS investors; GSEs prep green disclosures; LendingPoint securitizations on watch for downgrade amid servicing issue. Read More

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