New rated issuance of ABS rose 10.2% from the second to third quarter, though only Fitch and Kroll upped their activity. (Includes two data charts.)
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There’s a growing market for ABS where deals are negotiated discreetly between the issuer and a handful of investors. The securities typically don’t receive credit ratings.
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REITs continue to buy agency MBS but carry a caveat: The sector is shrinking in terms of asset size. Investors who are contrarian at heart might want to start nibbling on some of these stocks.
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The defendants said the case was not timely and the bureau’s allegations didn’t apply to them because of statutory wording. The judge, using dictionary definitions and SCOTUS precedent, rejected those claims.
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The ABS includes royalties for more than 200 songs that hit number one on the charts. However, none of the songs were disclosed in a rating report on the transaction, and only three artists were identified.
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ABS East attendance declined this year; non-agency MBS issuers saw weaker demand in November as supply spiked; GSE g-fees didn’t vary much based on seller size in 2020.
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