MBS & ABS Performance

Browse articles from all of our Newsletters related to MBS & ABS Performance.

January 18, 2019 - Inside FHA/VA Lending

Bright’s Hasty Exit Leaves a Vacuum at Ginnie Mae

Ginnie Mae has reached the halfway mark of President Trump’s first term without a permanent leader and appears likely to remain so until after the 2020 presidential election. Last week, Michael Bright, President Trump’s nominee to head Ginnie Mae, abruptly announced his resignation after waiting for months to be confirmed. Bright, who was executive vice president and chief operating officer, served as acting president of the agency after former President Ted Tozer resigned at the end of the Obama administration. Senate rules require resubmission if a nominee is not confirmed within the year he or she was nominated. This means going through the Senate vetting and confirmation processes all over again. It appears Bright no longer wanted to do that, opting instead to join the Structured Finance Industry Group, which represents all segments of the securitization industry, as president. In a Jan. 9 resignation letter to ...

January 18, 2019 - Inside MBS & ABS

What Macy’s Store Closings, Sears Woes Mean to CMBS

The department store industry faced some performance hurdles at the beginning of the year, and its troubles are likely to linger on, impacting the commercial MBS market, analysts said.

January 11, 2019 - Inside MBS & ABS

SEC Warns Rating Services for Flouting the Rules

Several rating services have received gentle warnings from the Securities and Exchange Commission for failing to follow policies and procedures, according to the latest annual report from the federal regulator.

January 4, 2019 - Inside Nonconforming Markets

MBS Issuers Experimenting With Stop-Advance Feature

Issuers of non-agency mortgage-backed securities are adding more variety to the stop-advance features of the deals, leading to criticism from rating services. Industry analysts, though, said the move doesn’t necessarily create new risks. With non-agency MBS, master servicers have to advance the principal and interest due for delinquent loans. Historically, they had to make the payments if the advances were deemed recoverable, analysts at Deutsche Bank Securities noted ...

January 4, 2019 - Inside Nonconforming Markets

Redwood Sticks out in Assessment by Moody’s

Moody’s Investors Service recently completed a round of assessments of originators and aggregators of non-agency mortgages. One of the key findings showed that Redwood Trust has a loan review policy for prime jumbo mortgages that differs from other aggregators. “Redwood continues to be the only aggregator that we have assessed to date who does not conduct full reviews on 100 percent of acquired prime jumbo residential mortgage loans,” Moody’s said. Three banks ...

January 4, 2019 - Inside MBS & ABS

MBS/ABS Market Ends Year with Lackluster Production

New mortgage- and asset-backed securitiza-tion production totaled $1.504 trillion in 2018, the lowest annual output in five years, an exclusive new analysis by Inside MBS & ABS reveals. [Includes three data charts.]

December 21, 2018 - Inside The GSEs

FHFA Issues Proposed Rule on Credit-Scoring Models

The Federal Housing Finance Agency proposed new standards Fannie Mae and Freddie Mac must use to consider approving new credit-scoring models.

December 20, 2018 - Inside MBS & ABS

DBRS Ranked Tops in Non-Agency MBS Ratings at 9-Month Mark in 2018, S&P First in ABS

DBRS continued to rank as the most active rating servicing in non-agency MBS as of the end of the third quarter, with S&P Global leading the industry in ABS ratings, according to a new ranking by Inside MBS & ABS. [Includes two data charts.]

December 20, 2018 - Inside MBS & ABS

Securitization Rates Nudge Higher in 3Q18 as MBS Issuance Catches Up with Primary Market

Residential mortgage securitization rates edged higher in the third quarter of 2018 but remained below the peak levels set in the aftermath of the financial crisis. [Includes one data chart.]

December 14, 2018 - Inside MBS & ABS

Kroll Cautiously Optimistic about Growth in ABS Next Year, Card Deals Expected to Surge

The fundamentals of non-mortgage ABS will remain relatively strong in 2019, with $249 billion in issuance compared with what’s expected to be a post-crisis high of $245 billion at the end of this year, according to a recent forecast by Kroll Bond Rating Agency.

December 14, 2018 - Inside MBS & ABS

MBS Trading Hammered in November. Will the Stock Market Carnage Continue, Leading to Lower Rates?

The average daily trading volume in agency MBS fell to $206.4 billion during November, the worst reading since August and the third lowest of the year, according to figures compiled by the Se-curities Industry and Financial Markets Association.

December 14, 2018 - Inside MBS & ABS

Prices for Seasoned Performing Whole Loans Decline Somewhat in 3Q Trading. An ‘Extremely Active’ Market

Prices for seasoned performing whole loans declined slightly during the third quarter, according to MountainView Financial Solutions. The secondary market for performing/re-performing whole loans has been “extremely active” this year, according to the firm’s residential whole-loan trading desk and transaction advisory teams.

December 14, 2018 - Inside MBS & ABS

Non-Agency MBS Outstanding Nearing End of 11-Year Tunnel, Agency Market Plods Forward

The supply of single-family non-agency MBS continued to decline in the third quarter of 2018, but the sector may be nearing a turnaround point, according to a new Inside MBS & ABS analysis of outstanding mortgage securities. [Includes two data charts.]

December 7, 2018 - Inside The GSEs

VantageScore Hires Fannie Official; Ups the Ante on its War with FICO

VantageScore Solutions has hired Emre Sahingur, a former chief risk officer for model risk management at Fannie Mae, as senior vice president for predictive analytics, research and product management.


Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

It’s fine. Stick with what works.
Time for a change. Borrowers are different today.
Undecided, still assessing the situation.

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