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Inside MBS & ABS

February 6, 2020

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Agency MBS Issuance Holds Strong in Midwinter Lull

The increase in agency MBS from December to January came from the Ginnie program, which has a slower securitization process than Fannie and Freddie. And some loans may have been held back to benefit from higher loan limits. (Includes two data charts.) Read More

Plan to Hike Capital for Nonbank Servicers Any Good?

The principal change in the proposed FHFA rule is to treat Ginnie mortgages differently from those of Fannie Mae or Freddie Mac. Read More

FDIC Clears Hurdle in Banks’ Non-Agency MBS Path

Banks will no longer have to meet extensive disclosure requirements for their MBS deals to receive investor-friendly protections. The change was met with criticism from an Obama appointee to the FDIC’s board. Read More

Fannie and Freddie Begin Countdown to Retire LIBOR

In efforts to move from LIBOR to SOFR, the GSEs informed market participants to expect new language on all single-family uniform adjustable-rate mortgage instruments that close on or after June 1. Read More

Lawmakers Differ on the Madden Fix Proposed by FDIC, OCC

There is a stark difference between Democrats and Republicans when it comes to the proposals to codify the valid-when-made doctrine. Read More

JPM May Reenter FHA Direct. Ramifications for Ginnie Issuers?

In a surprise move, Chase this week said it’s contemplating a return to FHA direct lending. Ramifications for the Ginnie MBS market? Yes. Read More

Houlihan Lokey to Help FHFA Draft Fannie/Freddie Exit

Hiring of a financial advisor marks a significant milestone toward ending the conservatorships of the GSEs, says FHFA Director Mark Calabria. Read More

ABS Backed by Personal Injury Claims Hits the Market

The $122 million issuance by Oasis Financial will be backed by litigation funding and medical-lien advances related to personal injuries. The deal received a preliminary A- rating. Read More

Director Mark Calabria Adds Muscle to FHFA Team

The agency restructuring is aimed at preparing the FHFA for its role after Fannie Mae and Freddie Mac exit conservatorship. Read More

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