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Inside MBS & ABS

January 18, 2024

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A Strong Year for New ABS Ends on a Sour Note in 4Q23

The big engines in the ABS market — vehicle and business-finance deals — posted solid gains in annual issuance last year, along with sharp declines in quarterly production. (Includes three data tables.) Read More

Home Equity Securitization Surges in Fourth Quarter

Nonbanks are fueling securitization of home-equity lines-of-credit, closed-end second liens and home equity investments. Issuance jumped in 2023 as refi business dried up. (Includes two data tables.) Read More

Regulators Urged to Revise Bank Capital Proposal

Participants in the MBS and ABS market have widespread concerns about a proposal to adjust capital requirements for large banks. They argue that the proposed capital requirements are unnecessarily high. Read More

Ginnie Explores Expanding HMBS Products

Ginnie Mae is exploring a new reverse MBS to provide a new form of liquidity to issuers with home equity conversion mortgages above the 98% maximum claim amount. Read More

FINRA Proposes Faster Reporting on MBS/ABS Trades

FINRA proposed reducing trade reporting requirements to one minute after execution from 15 minutes. Many trades of agency debt securities and TBA MBS already meet the proposed reporting requirements, while ABS reporting lags. Read More

Ginnie Seeks Dismissal of TCB Lawsuit Tied to RMF

The federal government last week filed a motion to dismiss a lawsuit by Texas Capital Bank against Ginnie Mae for eliminating TCB’s interest in the home equity conversion mortgages of bankrupt Reverse Mortgage Funding. Read More

Fannie Enhances MBS Prepayment Report

New attributes will give investors a better understanding of the status and pace of MBS prepayments. Read More

Clark Street Capital Starts Program to Accelerate Loan Sales

The company’s new Accelerated Bank Asset Network can help bank lenders close a loan sale in less than two weeks. Read More

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