Nearly all the top bank MBS investors reported gains in the value of their portfolios during the fourth quarter, but values remain well below amortized cost. Ginnie MBS saw the biggest gain. (Includes two data tables.) Read More

Issuance of GSE Supers MBS remained elevated in the fourth quarter, although down significantly from the previous period. Ginnie remains king of the agency REMIC market. (Includes two data tables.) Read More

Secondary market prices are firming up for non-QM whole loans, but there is chatter among investors that early-stage delinquencies are on the rise. A blip on the radar screen or something else? Read More

Issuance of home-improvement securitizations came in at $3.5 billion in 2023, according to Kroll Bond Rating Agency. Some of that volume was in privately-rated deals that haven’t been disclosed to this point. Read More

S&P Global Ratings projects prime auto loan ABS ratings to remain stable to positive in 2024, but subprime auto ABS ratings could drop. Read More

The potential merger of the two credit card companies will result in significant consolidation in bank credit card portfolios and a new market leader. Read More

The AAA-rated credit card ABS was issued by WF Card Issuance Trust, a de-linked credit card receivables-backed trust sponsored by Wells Fargo. Read More

Morningstar DBRS assigned a preliminary A rating to the deal that includes 370 short-term loans with a principal balance of $158.4 million. Read More

Some of the deficiencies highlighted across the credit rating agencies are of a critical nature. Read More

The consumer loans originated through this partnership will be acquired by Pagaya for securitization purposes. Read More