Issuance of Ginnie Mae MBS declined for the eighth straight quarter during the first three months of 2023. The deterioration was relatively uniform between FHA and VA volume. (Includes four data charts.)

Issuance doubled compared with the fourth quarter of 2022. However, issuance slowed considerably in March following the failures of two regional banks. (Includes data chart.)

The SEC’s proposed rule on conflicts of interest in the securitization market is unworkable and unnecessarily broad, according to industry stakeholders.

A large chunk of the loans were funded by Kiavi Funding and Lendmarq...

Three regional banks failed recently due partly to interest-rate risk. To avoid the same fate, mortgage companies of all stripes are being pushed to give up some profits to manage interest-rate risk.

Goldman bought a portfolio of underwater securities from SVB that resulted in a nearly $2 billion loss at the now-failed bank.

Non-agency MBS issuance slows; Fund That Flip forms REIT for bridge loans; Arc Home hires Sprout’s former chief production officer.

The biggest increase was in residential MBS, which was up 7.1% in the fourth quarter to $287.23 billion...

When asked if there were other banks that might be in danger of failing, the Fed chair was dismissive.

It looks like the worst of the bank liquidity crisis could be over. And now questions are being asked: Why weren’t these banks hedged? And who bought their high-quality Treasuries and MBS?