Sector developments and company hires

GSE social disclosures readied

Fannie Mae and Freddie Mac are set to begin publishing pool-level Social Index disclosures for their single-family MBS. The move follows the release of Fannie’s proposed methodology for single-family social disclosure that aims to provide investors with insights into socially-oriented lending activities (SCI 18 August).

The attributes are at-issuance measures and will not be updated monthly. As such, the GSEs will each post a one-time historical file to provide the Social Criteria Share (SCS) and Social Density Score (SDS) for all active and inactive MBS pools issued since January 2010.

Both GSEs intend to post their historical files in 4Q22 and to begin publishing the Social Index attributes for new issuances shortly thereafter. Additional details - including the final methodology and the file formats and definitions for these attributes - will be available in the coming months.

In other news….

APAC

Bankim Kapur has joined DBS Bank as executive director, based in Singapore. He was previously a director within Commerzbank’s lending division, overseeing the firm’s structured and specialised finance activities across its corporate client loan book. Before that, Kapur worked at Barclays and Deloitte.

EMEA

CFE Finance is set to acquire 60% of alternative investment boutique, RiverRock. The deal, subject to regulatory approval from the UK FCA, will diversify CFE’s investment portfolio and thus strengthen its investment offering in Europe. As part of the deal’s terms, RiverRock will remain a specialist in offering alternative solutions to global investors and customised solutions to SMEs across Europe. CFE hopes the majority acquisition of RiverRock will help to both further the strategic development of its business in Europe as well as mark a significant expansion of RiverRock’s investment platform.