S&P, Moody's and Fitch continued as the top rating services in non-agency MBS and ABS at the midway point in 2022, though Kroll held onto the lead in the RMBS market. (Includes two data charts.)
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Issuance of GSE Supers appeared to take a hit in July when Fannie and Freddie implemented new fees on commingled collateral, but production rebounded in August. (Includes two data charts.)
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Pacific Western Bank started acquiring residential mortgages in March 2021. PacWest is now done acquiring loans and looking to share credit risk on a pool with an unpaid principal balance of $2.68 billion.
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Delinquencies on expanded-credit MBS are increasing but investors in the deals appear to be protected at the moment. A review of the sector by Fitch prompted many upgrades and no downgrades.
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The Structured Finance Association warned that the Federal Trade Commission’s proposed rule on auto dealers could have unintended consequences for the securitization market.
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