While most of the larger mortgage REITs began growing portfolios that were ravaged by market turmoil at the end of March, many smaller firms continued to shrink. (Includes data chart.)
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Following in the footsteps of Citi and JPMorgan Chase, Wells Fargo is preparing to issue a non-qualified mortgage MBS. The bank plans to securitize small pools of its non-agency originations on a regular basis.
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Residential MBS accounted for 39% of the combined structured-finance portfolio for the 15 largest life insurers in the U.S. (Includes data chart.)
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Facing pressure from both sides of the aisle, FHFA Director Mark Calabria said if the GSEs had come into the current crisis with sufficient capital, the adverse market fee could have been delayed for a few years.
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Ultra-low interest rates are fueling both record originations and a stampede of debt offerings by mortgage firms far and wide. The latest participants: Rocket, NewRez and Fidelity National.
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Issuance of ABS tied to marine container leases set sail in August, with the sector producing more volume in recent weeks than all of 2018 and 2019 combined.
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Collateralized loan obligations tied to commercial real estate are faring well thanks to the sector’s limited exposure to the lodging industry.
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