The two biggest sectors in the ABS market — vehicle loans and business finance — saw solid gains in issuance in early 2022. GM Financial was the top issuer; Barclays Capital was the top underwriter. (Includes two data charts.)
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S&P has proposed revisions to its criteria for judging the adequacy of risk-based capital when assessing insurers. The revision would prompt higher capital requirements for certain MBS and ABS held by insurers.
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It seems that some non-QM lenders learned a valuable lesson this spring: When in doubt, hedge your production pipeline. Then again, it doesn’t apply to all loan types.
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As the non-QM market works out its kinks, deal activity should pick up, despite higher interest rates. Due diligence providers like Clayton are hoping the largess comes their way.
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All of the participants in the Fed’s TALF program set up in the early days of the pandemic were so-called opportunistic investors that hadn’t previously been buying AAA-rated deals.
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New reports from S&P and Fitch look at how home price appreciation, affordability and housing overvaluation trends, especially in certain geographic markets, might impact residential MBS.
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Kroll Bond Rating Agency estimates around 60% of loans maturing through 2023 would be able to refinance without added costs. But the refi prospects for retail properties and lodging are bad.
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