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Inside MBS & ABS

August 18, 2022

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Bank MBS Portfolio Shrinks in 2Q22, Stung by Valuations

Falling market values for Fannie/Freddie pass-throughs played a big part in the decline in bank investment in residential MBS during the second quarter. Holdings of Ginnie MBS and non-agency securities were up. (Includes two data charts.) Read More

FHFA and Ginnie Align Financial Eligibility Requirements

The federal entities appear to have accommodated many of the concerns of small and mid-sized seller/servicers, reducing some requirements and eliminating others. Read More

A Non-QM Shop With Securitization Plans Calls it Quits

Despite a tepid improvement in whole-loan prices being paid for non-QM mortgages, yet another non-QM operator has closed its doors: Cypress Mortgage. It was barely four months old. Read More

Angel Oak Settles with SEC Over Misreporting Claim

Angel Oak Capital Advisors and a portfolio manager with the company settled with the SEC, which alleged improper reporting of delinquencies on a fix-and-flip securitization issued by Angel Oak in 2018. Read More

Ginnie Eyes Expansion of FHA-HFA Risk-Share Program

Ginnie Mae said it supports HUD’s efforts seeking legislation that would provide a permanent source of capital for housing finance agencies fostering affordable multifamily housing. Read More

Reporting Timeframe for TBA Trades Could Shrink

FINRA and the MSRB plan to cut the reporting time for TRACE-eligible trades from 15 minutes to just one. Read More

Student Loan Delinquencies, Defaults Increasing

Performance of student loan ABS declined in the second quarter. And a moratorium on payments for federally backed student loans is set to expire at the end of August. Read More

UBS Wins Appeal Over Employee Termination

An appeals court overturned a ruling that ordered UBS to pay more than $2.5 million to a former commercial MBS research analyst. The verdict conflicts with other circuit court decisions and could end up at the Supreme Court. Read More

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