Reps. Ann Wagner, R-MO, and Brad Sherman, D-CA, raised concerns of the securitization industry with Federal Reserve Chair Jerome Powell. They aim to influence a proposal to implement changes to capital requirements for large banks.
Attendance at the ABS East conference hit another record this week, with investors showing strong demand for structured finance products. Issuance is expected to remain elevated, helped by interest rate moves.
Issuance of MBS with non-qualified mortgages is growing even as insurance companies increase their purchases of non-QMs as whole loans. Investor demand for the products looks likely to remain strong.
Non-agency MBS issuers typically ensure properties in the deal are damage free. That standard can be difficult to achieve if a hurricane strikes while the deal is still in the works.
FINRA received approval from the SEC to shorten reporting requirements for most trades of MBS and ABS from within 15 minutes to within one minute of a deal having transpired.
SFA restarted its RMBS Symposium event this week, with an agenda driven by issues under consideration at committees and task forces within the association.
A task force at the National Association of Insurance Commissioners recommended adoption of a proposal to alter credit ratings on investments at insurance companies. However, NAIC didn’t move forward with the proposal at a meeting last week.
Researchers show that an increase in uncertainty about the Fed’s balance sheet policy boosts the yield on long-term Treasuries and increases the duration of non-agency MBS.
The non-agency market could gain from a reduction in GSE loan limits, revision in capital requirements for banks and updated requirements for publicly registered securitizations.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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