If the proposal is implemented, some mortgage originations that have gone into bank portfolios would likely go into MBS instead. The impact on bank investment in MBS and ABS looks to be much more modest.
There’s an MI-linked CRT from Essent, a seasoned CRT from Freddie Mac and a non-agency deal from Jefferies; Goldman to issue commercial MBS with Amazon shipping facilities.
Investors are getting pickier on what they’re willing to pay for non-QM paper, at least compared to earlier in the year. Meanwhile, Acra Lending is once again toying with the idea of issuing its own MBS.
Investment management company Principal Asset Management suggests short duration, high-quality consumer ABS could be in high-demand if a recession hits later this year.
New capital standards proposed for larger banks; CrossCountry Mortgage, Hildene Capital Management join hands on non-agency MBS; LIBOR update; Angelo Gordon boost emphasis on MBS and ABS.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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