Fed stays course on MBS sales; SFA close to revising data tape for prime non-agency MBS; MBS on watch for rating upgrades by Fitch; subprime auto ABS impairments rise; commercial MBS delinquencies decline; Fannie sees tighter spreads for latest CRT; Morningstar not ready to give positive commercial MBS credit for “mass timber” construction.

Hybrid work environments are expected to put pressure on CMBS loans for office properties over the next two years and lead to a growing number of properties failing to refinance.

Morningstar places 77 commercial MBS on review for potential downgrades; Coinstar ABS face potential downgrades; Fitch sees neutral impact for airline ABS amid troubles with Boeing planes; Verizon to issue mobile device financing ABS.

Falling interest rates and demand for alternative funding options should boost commercial MBS issuance, according to Morningstar DBRS.

Fitch upgrades ratings on nearly half of outstanding GSE CRT issuance; delinquencies in commercial MBS declined in December led by improvements in loan performance for office properties; Morningstar plans new criteria for assessing securitizations tied to small businesses.

Ten years after the first single-family securitization was issued, S&P Global Ratings is ready to assess the deals.

WeWork is renegotiating leases in an effort to reduce costs. In a 2021 commercial MBS from JPMorgan Chase, the monthly lease payment dropped by 25% and cash reserves in the deal are dwindling.

More punitive capital treatment of commercial real estate under Basel III could prove to be a boon for CMBS issuance.

The criteria include new calculations for property values and qualitative adjustments tied to loan-to-value ratio-sizing benchmarks.

Commercial MBS issuers that source loans from affiliated lenders have lower rate spreads when compared to CMBS pooled by investment banks with loans from third-party lenders.