Non-agency MBS issuance was up in the third quarter thanks to strong gains in prime and expanded-credit MBS. Home equity and short-term business-purpose loan deals also gained momentum. (Includes three data tables.)
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Non-agency MBS issuers typically ensure properties in the deal are damage free. That standard can be difficult to achieve if a hurricane strikes while the deal is still in the works.
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The securitization will retire a similar transaction that was issued a year ago. Rating services raised some concerns about changes in streaming and risks from songs generated with AI.
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Deals rated by Moody’s successfully navigated the end of LIBOR reporting; vintage MBS wrapped by MBIA downgraded; GSEs, Ginnie increase MBS disclosures; ICE offers emissions estimates for MBS; new TBA trading app from South Street Securities.
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