The Structured Finance Association continues to push forward on revising the disclosures used with non-agency MBS. The revisions could lead to major changes in industry practices.

Bank MBS holdings have now declined for six straight quarters after peaking at the end of 2021.

The proposed capital standards were cited as one of the reasons by S&P for its decision this week to lower ratings of five regional bank.

These are trying times in the residential finance market. Mortgage rates are high, bond prices are falling and there’s a concern about a lack of MBS buyers. What to do? Let the Fed know how mad you are.

The Obama-era task force set up to investigate MBS fraud that contributed to the 2008 crisis has finished its job. Its efforts led the DOJ to collect $36 billion in penalties from banks, originators and rating agencies.

The rating service will assess expected payments from private mortgage insurers, with implications for MI-linked note issuance and potentially non-agency MBS with loans that have private MI.

Mortgages in the new non-QM MBS from Change have seasoned for an average of just one month.

United Wholesale Mortgage accounted for a large portion of the prime non-agency MBS issued in the second quarter. Overall, issuance remained subdued. (Includes three data charts.)

The company, however, remained the top servicer for loans in non-agency mortgage-backed securities issued in the second quarter of 2023. (Includes data chart.)

Following a brief pause on acquiring new loans, the REIT affiliated with Angel Oak Companies plans to increase its securitization output.