Fannie, Freddie and Ginnie securitized just $48 billion of refinance loans in May as both rate-term and cash-out activity crumpled. Purchase-mortgage business was up an anemic 0.2% from April. (Includes two data charts.) Read More

Issuance of expanded-credit MBS flowed in the first half of the year even as lenders grappled with higher interest rates. Issuance is expected to slow as lenders work to establish a new supply of loans with higher interest rates. Read More

Is it time for REITs to start issuing new shares of common and preferred again? Maybe. At least one REIT is back in the market: Annaly. Read More

According to Equifax, the 60+ day delinquency rate on subprime auto loans hit a record in March. S&P countered that Equifax is double-counting loans, adding that delinquencies aren’t at record levels in the ABS market. Read More

The Structured Finance Association had asked the Securities and Exchange Commission to hold off on new environmental, social and governance naming and disclosure requirements for asset-backed securities while SFA works on its ESG best practices. Read More

Modest increases in short-term and medium-term debt may indicate Fannie and Freddie are ready to return to the capital markets. Read More

Both delinquencies on securitized student loans and prepayment rates on student loan ABS are up and could increase further due to the Biden administration’s efforts to help distressed borrowers. Read More

Aviation ABS tied to Russia and Ukraine hit with downgrades; Pennsylvania’s private student loans deals from 2020 and 2021 upgraded; KBRA adds Opportunity Zone identifier to commercial MBS tracking; credit card ABS performance expected to decline. Read More