The volume of government purchase loans securitized into Ginnie Mae mortgage-backed securities grew in May for the third month in a row. Refi volume declined somewhat compared with April.

Did the Fed jump the gun by deciding to slow the pace of balance sheet reduction without waiting until it approached the point of ample reserves?

Select Portfolio Servicing is one of the largest non-agency MBS servicers in the nation — and it’s on the auction block once again.

Time to REIT-up for United Wholesale Mortgage? Not really, company management said recently. Just two A-paper nonbank lender/servicers — Freedom Mortgage and PennyMac — have jumped into the REIT pond, with different growth outcomes.

Beginning in June, Ginnie will allow commingling of digital and paper mortgages in its MBS.

UWM has jumped into the 100% LTV market with a two-lien loan. But what about the take-out in the secondary market? UWM is quiet.

Investors can’t seem to get enough non-agency MBS. Issuance is booming and demand is expected to remain elevated thanks to the outlook for interest rates, among other factors.

MBS trading has improved as investors and traders weigh the landscape. One positive: a benign inflation reading this week. But is this a head fake before worse news appears?

Computershare recently started offering trustee services for MBS. Western Alliance was named as a trustee for a CLO deal.

The flow of refinance loans into the Ginnie MBS program dropped 9.2% in April. Still, year-to-date refi volume in the government-insured market was up a solid 54.4%. (Includes two data tables.)