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Inside MBS & ABS

December 21, 2023

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Bank MBS/ABS in Trading Accounts Climbs in 3Q

Bank holding companies reported a big increase in agency MBS held in trading accounts during the third quarter. The industry also boosted its commercial MBS and ABS holdings. (Includes two data tables.) Read More

QM Changes Add Complications for Loans in MBS

New standards for qualified mortgages have created documentation hurdles for lenders and loan aggregators. Read More

Two More Nonbanks Considering HELOC Securitizations

More nonbanks are ready to take the HELOC plunge, using the MBS market as leverage. Among them: Homebridge and Angel Oak. Read More

Securitization Rate Rises Across Mortgage Sectors in Third Quarter

Securitization rates increased for GSE-eligible loans, government-insured mortgages and non-agency mortgages. While bank demand for jumbos is declining, the vast majority of the loans don’t go into MBS. (Includes data table.) Read More

Subordinate Investors Prevail in MBS Lawsuit

The lawsuit involved HAMP-modified loans in 36 non-agency MBS. Wells Fargo was the trustee of the securitized trust. Read More

S&P Proposes Rating Single-Family Rental Securitizations

Ten years after the first single-family securitization was issued, S&P Global Ratings is ready to assess the deals. Read More

Nonbanks Playing Larger Role in ABS Warehouse Finance

ABS Advisory CEO Fouad Onbargi discussed new sources of warehouse financing and developing new classes of ABS. Read More

WeWork Problems Rippling Through the CMBS Market

WeWork is renegotiating leases in an effort to reduce costs. In a 2021 commercial MBS from JPMorgan Chase, the monthly lease payment dropped by 25% and cash reserves in the deal are dwindling. Read More

Rough Times Ahead for Student Loan ABS

Moody’s Investors Service said performance for student loan ABS is seeing issues as a result of public policy moves around student loan debt and a resumption of payments after a several-year pause. Read More

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