Proposed capital requirements for large banks would create “perverse incentives” for banks regarding securitization activity, according to a new analysis by the Securities Industry and Financial Markets Association.
CalCon Mutual Mortgage plans to issue a $576.2 million non-agency MBS with mortgages eligible for sale to the GSEs. It will be the first non-agency MBS from the issuer.
The SEC has finalized a rule prohibiting certain conflicts of interest in the securitization market. Industry participants are largely happy with changes in the final version of the rule.
The new issuance from Balbec Capital received a preliminary AAA rating with somewhat higher credit enhancement than a typical expanded-credit MBS. It’s the second scratch-and-dent MBS from Balbec this year.
A 25-member bipartisan House group has called on the SEC to revise its proposed rule on conflicts of interest in the securitization market. The lawmakers said the SEC, in making the rule, went well beyond what was required by the Dodd-Frank Act.
A new study found that an increase in days over 90 degrees has a statistically significant impact on mortgage defaults and prepayments, both of which affect yields on MBS.
SFA published best practices for ESG disclosures for residential MBS and auto ABS. The association is starting with a limited number of disclosures and plans to expand the effort.
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