A surge in bank investment in deals backed by car loans accounted for much the industry's growth in ABS holdings during the first quarter. (Includes two data charts.)
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Portfolio holdings of agency MBS fell mostly due to lower market value for the assets. REITs also recorded a significant drop in TBA investments as agency MBS issuance declined. (Includes data chart.)
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After a two-week lull in issuance of jumbo MBS, a handful of deals hit the market. MBS issuers are facing weak demand from investors, with whole-loan outlets often offering better pricing.
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The first Black woman to serve as head of the Federal Housing Finance Agency squeaked through the confirmation with just one Republican vote, Sen. Mike Rounds of South Dakota.
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Investors are showing little demand for new issuance of CLOs and trading in the secondary market. CLOs are being sold off and are meeting with few potential buyer options.
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A recent district court decision illustrates the importance of the powers ascribed to trustees in governing pooling and servicing agreements when initiating a foreclosure action.
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