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Inside MBS & ABS

June 27, 2024

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New Ratings Business Rides Booming MBS/ABS Issuance

S&P lost a little market share in rating newly issued ABS but remained the top provider in the first quarter. Fitch had a similar experience in the non-agency MBS market. (Includes two data tables.) Read More

Servicing Investors See Warning Signs on Prepayments

When interest rates decline, the prepayment environment for agency MBS is likely to be much different compared with previous refinance booms, according to industry participants. Read More

FHFA’s Approval of Freddie Pilot Leaves Unanswered Questions

If Freddie Mac is allowed to purchase second mortgages, critics argue there should be clearly articulated capital requirements, loan-to-value ratio limits and debt-to-income ratio restrictions. Read More

Bank/Thrift CLO Holdings Decline Again in Early 2024

JPMorgan Chase held the largest CLO portfolio in the banking industry at the end of March, but its investment was down from the previous period. (Includes data table.) Read More

Trade Groups Call for Full Funding of Ginnie

A coalition of mortgage industry trade groups called on Congress to fully fund Ginnie Mae for fiscal year 2025. Read More

Loans to Foreign Nationals Pose Some Risks to Investors

Loans to foreign nationals are increasing in the non-agency MBS market, but inherent risks in the asset present ratings challenges. Read More

Non-QM EPDs Fairly Benign Right Now

There are plenty of buyers for non-QMs these days. And coupled with continued strong home values throughout most of the nation, sales of early payment default mortgages are not proving to be a burden. Read More

Ginnie Seeks Change of Venue in TCB Lawsuit

Ginnie Mae is hoping to have the case moved from a district court in Amarillo, TX, to the Dallas division. Read More

S&P Updates Ratings Criteria for Data Center Securitizations

S&P Global Ratings has updated its ratings methodology for data center ABS to better account for property values and insurance risks. Read More

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