Nearly two-thirds of the CLO and CDO issuance in the first quarter of 2021 came from restructuring and refinancing of earlier transactions. For new production, broadly syndicated loans were the biggest source of collateral. (Includes two data charts.)

Notes backed by MSRs could become plentiful if a strategy employed by PennyMac Financial and its sister company catches fire.

Ocwen Financial is ramping up its servicing/MBS issuance game in a new deal with Texas Capital Bank.