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.)
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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.)
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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?
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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.
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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.
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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.
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