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Inside MBS & ABS

March 21, 2024

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Banks Pad Trading-Account MBS/ABS Holdings in 4Q23

Bank holding companies reported a solid 5.0% increase in agency MBS held in trading accounts during the fourth quarter. But non-agency MBS and non-mortgage ABS holdings were down. (Includes two data tables.) Read More

Securitization Rate Rises in 4Q, Level Annually

The securitization rate for residential mortgages increased each quarter in 2023. Though on an annual basis, the rate was steady. (Includes data table.) Read More

Fed Holds Rates Steady, Plans to Slow Runoff From Balance Sheet

The Fed could start cutting rates in June, according to projections by industry analysts. The Fed is also moving toward slowing the runoff of its holdings of Treasury securities and MBS. Read More

Banks Looking to Nonbank Partners for Mortgages

Banks are reducing their appetite for mortgages, providing opportunities for nonbanks to boost their investment in the mortgage market. Redwood Trust looks to be leading the way in terms of bank partnerships. Read More

Tech Innovation Key to Overcome Market Disruptions

Officials from the secondary mortgage market believe innovations in products, policy and technology can support lenders and borrowers through a difficult housing market. Read More

A Mini Revival for Ginnie Early Buyouts?

Hope springs eternal for a revival in Ginnie Mae early buyout activity this year. Two missing ingredients: a steeper decline in mortgage rates and an end to the VA moratorium on foreclosures. Read More

Losses on Conduit Commercial MBS at Post-Crisis Low

Losses on conduit commercial MBS declined by 25% on an annual basis in 2023. However, loss severities remained elevated and delinquencies are rising. Read More

Santander Bank Shifts Auto Loan Strategy With ABS

Santander Consumer USA is a long-time issuer of auto ABS, but its affiliated Santander Bank only started originating auto loans in recent years. And to this point, the bank has issued only CRT with auto loans. Read More

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