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Inside MBS & ABS

June 11, 2020

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Banks Jostle Fed for MBS Dumped by REITs in 1Q20

Commercial banks, mutual funds and other investor groups scooped up the massive deleveraging of MBS by REITs at the end of the first quarter. Since then, the Federal Reserve has added $408 billion to its agency MBS holdings. (Includes two data charts.) Read More

A Rush to Buy Out Delinquent Loans from Ginnie Pools?

There’s a growing fear that Ginnie Mae buyouts may soon spike as nonbanks join the “party” to protect themselves. Read More

SFA’s Bright Expects Fed to Expand Assets Under TALF

It’s increasingly possible the Federal Reserve will add jumbo MBS to the assets eligible for TALF, according to Structured Finance Association CEO Michael Bright. Read More

CMBS Loan Delinquencies Increase Sharply in May

And even worse, industry analysts expect loans collateralized with commercial properties to see sharper increases in delinquencies for June. Read More

What Pandemic? Invitation Homes Raises Almost $400 Million

Coming off a decent first quarter, Invitation Homes was able to raise almost $400 million through an additional offering of common. Read More

FHFA Asks the GSEs to be Vigilant About Fast Prepays

To ensure the uniform MBS is a “continued success,” the FHFA has asked Fannie and Freddie to be watchful of “key patterns and measures.” Read More

Extensions on Loans in Auto ABS Up Sharply in April

The use of extensions on subprime auto ABS more than doubled in April on a monthly basis. The outlook for performance is uncertain with enhanced unemployment benefits set to end in July. Read More

Court Rejects CFPB’s Settlement with Student Trusts

A federal judge in Delaware rejected the CFPB’s $19.1 million proposed consent decree with 15 student loan trusts because the law firm that signed on behalf of the defendants lacked authority. Read More

Mortgage Grapevine: Nonbank Liquidity Now a Non-Issue / Calabria on the Job

The MBS liquidity crisis is over. Was it ever serious? We may never know and you can thank the Federal Reserve. Read More

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