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Inside MBS & ABS

July 9, 2020

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Agencies Lead Huge Jump in Structured Finance Issuance

Despite the dampening effect of the coronavirus early in the second quarter, total MBS and ABS issuance soared to a record $790 billion. Agency single-family MBS accounted for 94% of total issuance. (Includes four data charts.) Read More

Quicken Touts Agency MBS Seller Benefits in IPO Pitch

The company believes delivering loans to agency MBS helps it be a “high velocity, capital light and cash generating” operation. This year, the firm has held mortgages on its balance sheet for as few as eight days. Read More

TALF Usage Increases in Second Round of Subscriptions

The bulk of loans from the July 6 Term ABS Loan Facility have gone to investors in legacy commercial MBS. Read More

Ginnie Sees ‘Buyouts’ Spike and Moves to Quell the Tide

There’s nothing wrong with buying delinquent mortgages out of Ginnie pools, but some issuers may have been getting too greedy during the pandemic. Read More

Regulators Going Slow on MBS/ABS Rulemakings

Federal regulators have delayed their review of risk-retention requirements until next year. Also, most regulatory actions planned for MBS and ABS fall into the “long-term” category. Read More

CMBS June Delinquencies Near All-Time High

The delinquency rate on commercial MBS could still be headed higher, but with smaller increases, according to industry experts. Read More

Will the GSE Capital Plan Kill CRT?

The CRT market is showing signs of post-pandemic recovery. But Freddie Mac’s former CEO believes the re-proposed capital rule for the GSEs could make the whole CRT program pointless. Read More

Prepayment Isn’t the Only Factor in Estimating MBS Prices

Economists at the Federal Reserve Bank of New York found that having both to-be-announced and specified pools markets increase yields for MBS in both places. Read More

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