Refinance and restructuring of previously issued deals accounted for 62.8% of first-quarter CLO and CDO issuance. A total of $47.94 billion of such deals hit the market...
While the limit is near the level of GSE acquisitions of non-owner occupied properties in recent years, the way the cap has been implemented is prompting lenders to seek new outlets.
Additional non-agency MBS with GSE-eligible mortgages for investment properties are expected due to new limitations on Fannie/Freddie acquisitions of such loans.