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Inside MBS & ABS

September 12, 2024

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Banks Pull Back From ABS as Issuance Remains High

Most of the top bank ABS investors reported declines in their holdings during the second quarter. Radius Bank and Capital One bucked the trend by growing their portfolios. (Includes two data tables.) Read More

Changes to Basel III Endgame Could Impact Agency MBS

Federal Reserve Vice Chair Michael Barr plans to recommend retaining capital requirements for unrealized losses on MBS held in bank portfolios. This provision was in response to the 2023 banking crisis. Read More

Bank Holding Company CLO Investment Fades

Although bank holding companies keep most of their CLO investments in held-to-maturity accounts, the value of CLO classified as available-for-sale was up slightly in the second quarter. (Includes data table.) Read More

Strong Demand for Home Equity Investment ABS

ABS backed by home equity investments are offering unlevered returns in the low double digits. The first rated HEI ABS was issued in October and industry players are anticipating exponential growth. Read More

Acra Set to Issue Its First Expanded-Credit MBS

Acra’s first-ever MBS is ready to hit the street. The company’s servicing platform, Citadel, will be the master servicer on the bond. More issuances are expected, but not until 2025. Read More

Atlas Follows in Credit Suisse’s Footsteps With RPL MBS

A former Credit Suisse team has picked up where it left off with a new RPL MBS issued through Atlas Portfolio Partners. Read More

Judge Denies Ginnie’s Venue Change Request in TCB Case

The court said a non-signatory to an agreement, in this case Ginnie Mae, cannot lay claim to the benefit of a forum selection clause. Read More

TGI Fridays Loses Control of Its Whole-Business ABS

The restaurant chain was removed as manager of its 2017 whole-business securitization following a slew of reporting errors and rating downgrades. Read More

CMBS Delinquencies Could Surpass Pandemic Levels

Later this year, delinquency rates on commercial MBS could top levels seen during the pandemic, according to Moody’s. Read More

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