Commercial banks and savings institutions boosted their holdings of residential MBS to a record $1.839 trillion during the third quarter, according to a new Inside MBS & ABS ranking and analysis.
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More than three years after standards for qualified mortgages took effect, investors in the non-agency MBS market appear to be getting more comfortable with products that fall outside its bounda-ries. JPMorgan Chase is preparing to issue a large MBS backed by non-QMs that’s similar to deals from several nonbank issuers.
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Ginnie Mae has been without a permanent president for roughly 10 months now, but so far inves-tors don’t seem to be balking at buying agency MBS. But that doesn’t mean the market – as well as stakeholders – aren’t getting nervous about the situation.
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Consumer debt reached a new high at the end of the third quarter of 2017, surpassing levels seen in the run-up to the financial crisis and prompting concerns about the systemic risk to MBS and ABS investors posed by consumer leverage.
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Walter Investment Management Corp.’s planned Chapter 11 reorganization is not likely to affect the credit ratings of MBS backed by loans serviced by its subsidiary Ditech Financial, according to an analysis by Fitch Ratings.
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Industry fundamentals in the auto ABS sector are improving in the wake of the hurricanes, ac-cording to a report by a pair of analysts at Wells Fargo Securities.
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Fannie Mae and Freddie Mac have been approved to once again participate in the low income housing tax credit program aimed at affordable rental housing, but their share will be limited as to not impede on the private market.
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