The Fed could start cutting rates in June, according to projections by industry analysts. The Fed is also moving toward slowing the runoff of its holdings of Treasury securities and MBS.
Kroll saw a 21.9% increase in non-agency MBS ratings from the third to the fourth quarter, as well as the smallest decline (3.7%) in ABS rating volume. (Includes two data tables.)
Bank of America issued a resecuritization this week tied to a 2017 multifamily K-deal. It’s the first rated issuance of its kind from BofA since 2016. The new resecuritization received an A- rating.
The red-hot vehicle ABS market saw intense competition between S&P and Fitch for ratings supremacy. Kroll rode the resurgent ECM MBS market to boost its share of rated issuance. (Includes two data tables.)
Fitch and DBRS weathered the sharp drop in rated non-agency MBS issuance better than their competitors. S&P moved back to the top in ABS ratings at midyear despite losing some ground in the vehicle sector. (Includes two data charts.)
Fitch rode the market’s hottest sectors in the first quarter: vehicle-backed ABS and expanded-credit MBS. S&P slipped to second in ABS ratings and fourth in residential MBS. (Includes two data charts.)
S&P, Moody's and Fitch continued as the top rating services in non-agency MBS and ABS at the midway point in 2022, though Kroll held onto the lead in the RMBS market. (Includes two data charts.)
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