Investors are seeking out Ginnie Mae custom pools with better convexity profiles than those of forward trading multiple-issuer pools, causing the convexity of the multi-pools to further deteriorate.

Lower interest rates and potential policy changes are expected to help drive an increase in prepayment activity this year.

Columbia University researchers dispute the conventional wisdom that says Fannie Mae and Freddie Mac dramatically overpay CRT investors.

WaFd Bank replacing whole-loan holdings with MBS; solar ABS on downgrade watch; dv01 expands into credit card ABS.

President Trump effectively directed the GSEs to fill in the role that the Fed had been serving in terms of agency MBS investments. The stimulus could be short lived, with the purchases expected to wrap up by June.

A mortgage with a prepayment penalty might be as much as 65 basis points cheaper for borrowers, according to GSE shareholder Bill Ackman.

SFA’s new director of advocacy comes from CSBS; Ginnie adjusts platinum MBS pooling; earnings per share at Orchid Island Capital up in fourth quarter; Setpoint to acquire due diligence provider.

Goldman Sachs expects UWM to sell Two Harbors’ MBS portfolio once its planned acquisition of the real estate investment trust is complete.

As long as the GSEs are profit-seeking entities, Urban Institute analysts suggest that allowing Fannie and Freddie to buy large amounts of agency MBS would leave the GSEs “with every incentive to swell their balance sheets to enormous levels during these periods of volatility.”

The securitization rate for residential mortgages originated during the third quarter was near the same level seen in 2019. Meanwhile, the share of GSE-eligible mortgages that flowed into MBS increased.