Blog

Our thoughts on news that matters.

The Big One (in mortgages)

Will the Fed’s MBS bond investment program ever unwind, and when? This is the $1.75 trillion question that people are starting to ask. If it does unwind, everything old might be new again. The Fed purchases almost $400 billion MBS annually, and owns one third of the market. Moody’s sees the possibility of 6 percent mortgages. If […]

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Nice Exit, Nice Partner

Congratulations to both companies on Morningstar’s $225 million acquisition of Pitchbook. The recently announced deal underscores the power and value of financial data. It also seems to be a great example of a relationship that has grown and prospered (Morningstar was already an investor and board member) over time. We expect the merged entity will  continue […]

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LandGrab

A story this week at Tabb Forum suggested that Fintech investing will grow to $150 billion over the next five years. Very interesting statistic. It sounds high, in one sense. Such a figure would mean that Fintech would constitute the great bulk of VC investing over that period.  On the other hand, finance has constituted […]

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PIR Capital Analytics

An interesting article from PIR Capital underscores just how important forensic accounting skills are for proper RMBS risk management. With hundreds of millions-to-billions at stake in any litigation, the ability to know what to look for in documentation, disclosure, and negotiation is critical. PIR provides training on various topics, including bulk settlements: Learn about what […]

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Nelnet Initiates Amendment Campaign

Reuters describes how student loan issuer Nelnet has initated a pro-active campaign to extend the maturities of its most recently issued trusts.  DealVector is excited to be part of the effort. Greer McCurley, Nelnet executive head of capital markets, said his company was encouraged by fellow issuer Navient, which secured the required 100% consent from […]

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The Good, The Bad, and the Deflated

With more than five trillion of sovereign bonds trading at negative yields, and deflation on everyone’s mind, how ugly will it get for securitized assets? There are multiple paths by which deflation impacts structured assets. Some are good, some are bad, some are ugly. “Good deflation” is the magic of capitalism. Competitors find ways to […]

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