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Inside MBS & ABS

January 2, 2025

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Banks Boosted MBS/ABS Trading Portfolios in Third Quarter

Agency pass-through MBS remain the most popular asset in bank holding company trading accounts, but there was a sharp increase in agency multifamily securities during the third quarter. Read More

Residential Mortgage Securitization Rate Increases in 3Q

The securitization rate for residential mortgages hit an estimated 68.6% in the third quarter, as more conventional-conforming loans flowed into GSE MBS. Read More

Ginnie Boosts Employee Count, Still Many Contractors

Ginnie Mae increased its employee base by 25% on an annual basis in fiscal year 2024. Still, the agency is reliant on contractors, which accounted for more than 80% of Ginnie’s expenses. Read More

Groundfloor Issues First RTL Deal With Deferred Payments

GA-based lender and servicer Groundfloor hit the ABS market for the first time by issuing a securitization with deferred payments tied to residential transition loans. Read More

FCI Sees Continued Growth in Private Money

In business for 40-plus years, FCI has stuck to its knitting of servicing delinquent and nonprime product. According to management, it’s secret sauce is focusing on state-of-the-art technology, including AI. Read More

A-1 Tranche in GSE CRT Benefits Investors and GSEs

The new bonds help the GSEs reduce the amount of capital they must set aside under the enterprise regulatory capital framework. Read More

BondBloxx Plans IPO for Private Credit Investment Vehicle

The investment vehicle plans to mainly buy whole loans, but may also purchase ABS. Read More

Interplay Between MBS Delinquencies and ABS

Rising mortgage delinquencies increase spreads on residential MBS, as expected, along with spreads on credit card, student loan and auto loan ABS. Read More

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