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Inside MBS & ABS

May 2, 2024

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Agency MBS Rises in April, Refi Tide Appears to Wane

All three agencies saw increases in monthly loan deliveries in April, with loan mods helping to boost Fannie to a 17.4% gain from March. The purchase market and cash-out refi remain strong. (Includes two data tables.) Read More

Federal Reserve Prepares to Slow Balance Sheet Reduction

The Federal Open Market Committee this week announced lower caps for Treasury runoff and a tweak to its MBS activity. Read More

GSE Earnings Belied by Mortgage Holdings

Profits at Fannie Mae and Freddie Mac weathered a steady decline in mortgage purchases and shrinking mortgage holdings. (Includes data table.) Read More

Homebridge Goes From GSE Lender to HELOC Securitizer

Peter Norden, CEO of Homebridge Financial, is transforming his once top-40-ranked GSE lender into a HELOC originator and securitizer. Margins in conventional lending, he said, are non-existent. Read More

SEC Reviewing FINRA Rule on MBS Trade Reporting Timeframe

A proposal from FINRA to reduce the timeframe in which trades of MBS and ABS must be reported didn’t sit well with some industry participants, prompting the SEC to take a closer look at the proposal. Read More

Secondary Market Investors Look to Non-Agency Loans

Secondary market players are showing a growing interest in expanded-credit mortgages and jumbos. Read More

Ares, AmWest Partner on Non-QM Securitizations

Ares will contribute 90% of the joint venture capital while AmWest will provide the remainder. AmWest will also the provide the non-QM loans for securitization. Read More

New Issuers Enter Student Loan Securitization Market

San Diego-based Ascent and Washington, DC-based MPOWER separately began marketing their first student loan ABS in recent weeks. The firms operate online platforms and partner with banks on originations. Read More

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