2022 U.S. RMBS Outlook: Can Resilience Continue in the Twilight of Coronavirus Interventions?

2021 was another historic year, with the coronavirus-era recovery progressively improving through what is hopefully the tail end of the pandemic. On the back of unprecedented government and private economic and social interventions, nearly all aspects of the economy, including public health, communities, businesses, and markets, have improved over the worst of 2020. However, economic conditions still have some way to go to get back to normalcy, stability, and what everyone hopes to be a post-coronavirus world.

As coronavirus-era interventions subside, the U.S. RMBS market will likely be migrating to a more balanced risk profile, which means relatively less upside/more downside risk versus 2021, but the credit performance trends did enter 2022 on a positive trajectory.

Contents:

-- DBRS Morningstar 2022 U.S. RMBS Outlook: Perspectives at a Glance
-- Introduction
-- Sector by Sector
-- Prime Credit
-- Non-Qualified Mortgage (Non-QM)
-- Credit Risk Transfer (CRT)
-- Mortgage Ins. Linked Notes (MILN)
-- Single-Family Rental (SFR)
-- Reverse Mortgage (RM)
-- Other