Under the CFPB proposal, which aims to establish a level playing field between the GSEs and the non-agency market, most loans will still be QMs, but there might be fewer incentives to sell the loans to the GSEs.
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S&P, Moody’s and DBRS made the most of the surge in rated ABS issuance during the first quarter. Kroll and Moody’s managed to increase non-agency MBS ratings in a declining market. (Includes two data charts.)
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Nomura analyst Matthew Howlett says PennyMac's strong performance is a sign of boom times for mortgage lenders. He expects four or five IPOs of nonbank originators in the next nine to 12 months.
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The credit quality of collateralized loan obligations is expected to further deteriorate in the coming months, even though corporate issuers are stabilizing, according to the rating services.
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Under the final rule, legacy interest rate swaps will remain valid even in the event the reference rate — typically LIBOR — has to be replaced.
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The consumer ABS sector is in recovery mode after hitting a rough patch due to the coronavirus pandemic, according to comments made during a recent webinar.
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