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Inside MBS & ABS

May 23, 2024

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Bank ABS Holdings Sink to 17-Year Low in Early 2024

The top three bank ABS investors reported a combined 12% decline in their holdings during the first quarter. But ABS investment was up at PNC Bank, Capital One and Radius Bank. (Includes two data tables.) Read More

Secondary Market Opposes GSE Second-Lien Plan

SIFMA warned that Freddie’s proposal to acquire second liens could pose risks to the to-be-announced, credit-risk transfer and consumer-loan markets. SFA said the proposal, if approved, should be limited. Read More

Fed’s Deck-Shuffling Boosts GSE Supers Volume in 1Q24

Although Fannie saw a 20% decline in Supers MBS issuance in the first quarter, Fed data show a substantial increase in the central bank’s “aggregated” holdings of Fannie securities. (Includes two data tables.) Read More

Ginnie Allows Digital/Paper Loan Commingling in MBS

Beginning in June, Ginnie will allow commingling of digital and paper mortgages in its MBS. Read More

Non-QMs Attractive to Investors, Lenders

Demand in the secondary market for non-qualified mortgages is helping to fuel originations of the loans. Delinquencies in the sector have ticked up but aren’t yet a major concern. Read More

CRT Issuance by Banks Poised for Growth

Banks are looking for capital relief, regulators are making issuance of credit-risk transfers easier for banks to complete and investor demand for the deals is strong. Read More

GSEs Tout Success of Mission Index Issuance

With an eye toward attracting more mature ESG investors from Europe, Fannie and Freddie updated their Mission Index scoring. Read More

UWM’s Zero-Down Loan Puzzles Secondary Market

UWM has jumped into the 100% LTV market with a two-lien loan. But what about the take-out in the secondary market? UWM is quiet. Read More

LIBOR Alternative Needed for Non-Agency Hedging

A new Optimal Blue whitepaper details the need for a LIBOR alternative in the secondary market for non-QM loans. Read More

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