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Inside MBS & ABS

May 13, 2021

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CLO Market Off to Roaring Start in 2021 Thanks to Refis

Nearly two-thirds of the CLO and CDO issuance in the first quarter of 2021 came from restructuring and refinancing of earlier transactions. For new production, broadly syndicated loans were the biggest source of collateral. (Includes two data charts.) Read More

Freddie CRT Plows Ahead, Fannie Remains on Sidelines

Freddie had one of its busiest quarters ever in issuance of new STACR credit-risk transfer securities in the first quarter of 2021. Fannie remained out of the market. (Includes data chart.) Read More

With Earnings Strong, Nonbanks Continue to Issue Debt

Mortgage banking firms have been emulating some of their customers by taking advantage of rock-bottom rates to borrow as much as they can. Should anyone be worried? Read More

Angel Oak’s New Non-QM MBS Meets its Social Bond Framework

It marks the first residential MBS rated by Kroll that aligns with a social bond framework. Fitch Ratings also rated the deal, though the firm appeared to be somewhat less impressed. Read More

Non-Agency MBS Performance Back on Track After Some Hiccups

Months of improvements in the performance of non-agency MBS stalled earlier this year, though delinquencies resumed a downward trend at the end of March. Read More

Experts Believe CRE Will Pick Up in 2Q21

Inflation and the pandemic-related work-from-home trend could have an impact, according to an NAR economist. Read More

Fannie Further Simplifies MBS Pool-Closing Process

Improvements in Collateral Underwriter mean field reviews of appraisals will no longer be required. Read More

Grapevine: Surprise: An MH MBS / Fannie Selling NPLs

The secondary market is active this spring with an MBS backed by MH communities, plus Ginnie EBO activity remains brisk. Selling more NPLs: Fannie Mae. Read More

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