AB CarVal Investors and Ares Management are in the market with separate expanded-credit MBS, marking the first time either firm has offered that type of MBS.
SFA and others have asked the SEC to extend the comment period on a proposed rule regarding conflicts of interest in the securitization market; SFA revises TRID grid; Fitch reviews RPL MBS; new ABS with Small Business Act Section 7(a) loans.
While the GSEs are under mandates to shrink their retained portfolios, Freddie’s holdings increased in the final three months of 2022. (Includes data chart.)
Redwood Trust isn’t planning to ramp up acquisitions and sales of prime non-agency mortgages in the near term due to elevated interest rates and strong competition from banks for jumbos.
The MBS and ABS markets would experience significant volatility if the federal government doesn’t increase its debt limit. Uncertainty on the outcome is already prompting conservative moves among major investors.
FHA and VA are collaborating with Ginnie Mae on new low- to moderate-income disclosures for MBS pools to help investors meet environmental, social and governance mandates.
Ginnie announces new LMI ESG disclosures; HUD seeks comments on proposal to expand housing counseling tailored to tribal communities; HUD issues RFI on learning agenda supplement; Housing and Insurance subcommittee chair named; House committee disallows changes to veterans’ ability to testify virtually; USDA updates handbook.
Issuance of prime non-agency MBS nearly ground to a halt during the fourth quarter. For the full year, activity was down almost 60%. (Includes three data charts.)