Significant increases in securitization rates were recorded in the conventional-conforming, government-insured and nonprime markets. Relatively few jumbo loans are pooled in non-agency MBS.
The Structured Finance Association issued new guidelines for testing loans in non-agency MBS for compliance with TRID. Requirements were reduced, with industry participants growing more comfortable with TRID liability.
The merger with Morningstar could help DBRS expand its footprint in rating non-agency MBS but likely will have little effect on its share of the ABS market.