Moody’s issues ratings methodology for Data center ABS
The rating agency covers its bases in preparation for a surge in data center debt
By
John Hintze
Economy
Fed rate cut outlook shifts amid inflation, policy uncertainty
Most participants in a monthly Wolters Kluwer survey no longer think the next short-term rate reduction will be in March.
Jobs report has plenty of bad news for mortgage market
While mortgage employment is lower year-over-year, the mixed bag of data makes it more likely that borrowing rates will remain higher for longer.
After tariff-driven volatility, mortgage rates move lower
The 30-year fixed rate mortgage continues to slip away from the 7% mark, Freddie Mac said, but experts still expect them to stay higher for longer.
RG&E Storm Funding gets set to raise $75.3 million from utility cost recoveries
RG&E, series 2025-A, is the second utility cost recovery securitization this week, and is another first-time issuer.
Fewer foreclosure auctions in 2025, unless economy slips
Completed foreclosure auctions should be 8% lower this year, but if home value and unemployment expectations change, all bets are off, Auction.com said.
NYSEG raises $710.6 million in utility cost recovery charges
Residential customers made up 70.1% of NYSEG's sales revenue, while commercial and industrial customers account for the other 30% of sales. The latter is a relatively high exposure for such deals.
Cajun Global issues another $100 million from its whole business master trust
Debt service coverage ratio triggers, including cash trapping and rapid amortization, will provide much of the credit enhancements to the notes.
Record CMBS issuance continues but challenges lurk
Deal production has been a bright spot, but delinquencies could soon reach record highs, especially for office CMBS.
By
John Hintze
PennyMac offers $346.6 million in RMBS notes
Just 2.15% of the loans in the pool financed properties in Los Angeles County, and the surrounding areas that have been impacted by the recent wildfires.
NYC-area banks’ to-do lists: Deposit growth, CRE reduction
Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.
Fannie Mae cuts mortgage forecast as high rates stick around
Higher mortgage rates will persist through 2026, affecting sales and refinancings. Those expectations led Fannie Mae to cut its volume outlook for the next two years.
SCF prepares to issue $959.9 million in equipment ABS
Obligors are slightly more concentrated but the percentage of obligors in higher credit quality grades—2 through 5—increased to 56.9%, from 41.3% from the previous deal.
GSE privatization could help pay for tax cuts, but not easily
Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.
Uniti Fiber ABS Issuer to sell $589 million in fiber optic infrastructure
The inaugural deal is expected to close by the end of the month. Among its structural features are cash trap and cash sweep provisions.
Multifamily properties secure $876 million CRE CLO from ACREC
Classes A through E, do not allow for payment-in-kind, which allows borrowers to use assets other than cash—such as equity or shares—to make interest payments.
Mortgage rates likely to go back over 7% as they rise again
The Freddie Mac mortgage rate tracker on Thursday morning showed the conforming 30-year fixed rate mortgage creep closer to the 7% level last seen in May.
Jobs, rates and insurance influence Freddie’s 2025 outlook
Mortgage rates should decline very gradually next year as the Federal Reserve will keep to its implied path of short-term rate reductions, Freddie Mac said.
The economy is looking good for banks in 2025 — but watch out for 2026
Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including the depth and scope of President-elect Donald Trump's immigration and tariff policies — could change that course, but likely not until 2026.
Mortgage rates again move opposite Fed’s actions
Over the past two weeks, the 10-year Treasury yield, priced on market expectations, increased over 40 basis points and that is finally being seen in the Freddie Mac survey.
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