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Inside MBS & ABS

June 23, 2022

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Securitization Rates Spike in 1Q22 as Originations Tumble

The timing lag between primary market originations and MBS issuance led to a sharp increase in securitization rates in the first quarter of 2022. (Includes data chart.) Read More

MBS/ABS Investment Down In BHC Trading Accounts

Bank holding companies reported a hefty 17% decline in the value of MBS in trading accounts during the first quarter. ABS and commercial MBS investment was up slightly. (Includes data chart.) Read More

Deals Backed by Non-QMs And SFRs Hit the Street

Sponsors of non-agency mortgage-backed securities have been busy of late. One goal is to clear out older, lower-yielding paper. At least two recent deals fit the bill and more could be on the way. Read More

Most REIT-Related Debt Trading at a Discount

When the financial outlook weakens, equity prices suffer and debt prices soon follow. Mortgage REITs are no exception. But overall, the cohort is holding up better than nonbank lender/servicers. Read More

Stakeholders Continue to Criticize GSEs’ New Fee

Industry groups argue that assessing fees on commingled collateral could undermine market confidence in the UMBS. Read More

Mall Bankruptcy Ends With Largest CMBS Loss Since ‘09

The $74 million loss on a commercial MBS conduit loan lines the pockets of investors, like Carl Icahn, who have shorted brick-and-mortar retail. Read More

Annaly Paints Rosy Picture For MBS, Servicing Rights

The REIT has built up strong residential and MSR businesses to diversify risk and support its agency prowess. And while it’s held back on increasing leverage, once volatility declines, all that may change. Read More

Industry Suggestions for ABS Climate-Related Disclosures

Industry groups are asking that any climate-related disclosures for ABS be based on existing frameworks and be tailored by asset class. Read More

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