Most of the increased production in the third quarter came in agency multifamily MBS, and it remains to be seen whether new caps on Fannie and Freddie significantly reduce their footprint in the market. (Includes data chart.)
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Amid criticism from lawmakers that releasing Fannie Mae and Freddie Mac from federal control might enrich hedge funds, Federal Housing Finance Agency Director Mark Calabria said he is willing to wipe out the shareholders to protect taxpayers from another GSE bailout.
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Fitch is including environmental, social and governance relevance scores as part of its ratings of securitized products. The scores help assess sustainability and ethics though they aren’t a major factor in credit ratings.
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After facing some legal setbacks, investors in commercial MBS have adjusted their tactics in an effort to prevent abuses of the ability special servicers have to purchase loans out of commercial MBS.
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Standard & Poor’s said its ratings of credit card ABS issued by Capital One and JPMorgan Chase will not be affected by the lawsuits filed against the lenders for allegedly violating New York’s usury laws.
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Commercial MBS backed by retirement properties could see a rise in delinquencies due to excess supply in the senior housing market, according to a new report by Kroll Bond Rating Agency.
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An Australian nonbank lender is prepping a residential MBS deal with part of its senior tranche denominated in U.S. dollars. It is not the first time the nonbank has done so.
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