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Inside MBS & ABS

September 28, 2023

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S&P Claims Lead in ABS Ratings, Fitch Tops in RMBS

Fitch and DBRS weathered the sharp drop in rated non-agency MBS issuance better than their competitors. S&P moved back to the top in ABS ratings at midyear despite losing some ground in the vehicle sector. (Includes two data charts.) Read More

MBS Climb in Bank Holding Company Trading Accounts

JPMorgan Chase and Goldman Sachs accounted for much of the big increase in agency MBS held in bank holding company trading accounts during the second quarter. But several other companies recorded significant increases as well. (Includes two data charts.) Read More

McCargo Calls for More Congressional Support

Ginnie Mae President Alanna McCargo said the agency needs more Congressional support in the form of funding for staffing and other issues. Read More

Securitization Rates Flat as Originations, Issuance Steady

Mortgage securitization rates remained at previous levels as new primary market production and MBS issuance grew at similar rates in the second quarter. (Includes data chart.) Read More

Saluda Grade to Issue First Rated HEI Security

The planned $223.7 million securitization includes home equity investment agreements originated by Unlock Technologies. Read More

New Ginnie Policy Boosts Liquidity for HMBS Issuers

The reverse mortgage industry is lauding a recent Ginnie policy change designed to reduce liquidity pressures for issuers of MBS backed by FHA home equity conversion mortgages. Read More

Concerns Linger on NAIC’s Credit Rating Proposal

Members of the National Association of Insurance Commissioners defended NAIC’s plan to allow state insurance commissioners to overrule the ratings assigned to MBS and ABS held by insurance companies. Read More

Grapevine: Moody’s Eyes U.S. Rating; GSEs Prep Social Disclosures

Moody’s warned that a government shutdown could lead to a downgrade of its AAA rating for the U.S., Fannie and Freddie plan new social disclosures; DBRS proposes revisions to CLO rating criteria. Read More

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