Recent court rulings on litigation involving non-agency MBS issued prior to 2008 are setting new precedents, with broad ramifications.

Vacancy rates for single-family home rentals are expected to remain stable in the months ahead, but the rapid rise in rents is likely unsustainable, according to industry experts.

Ginnie Mae MBS purchase issuance rose 14.9% in May compared to April, according to an analysis by Inside FHA/VA Lending. (Includes two data charts.)

Spreads on expanded-credit MBS issuance have widened significantly this year as lenders sell mortgages originated prior to the runup in interest rates. Issuance has slowed but market participants are optimistic in the long term.

An affiliate of Bayview Asset Management issued an MBS with small-balance commercial properties in May, marking the first issuance of its type from the firm since September 2020.

After more than a year of steady declines in delinquencies on securitized non-QMs, delinquency rates have fluctuated in recent months.

Non-agency MBS issuance nearly frozen; Redwood raises funds with debt sale; DBRS accepts more firms for due diligence.

Moody’s proposed establishing ESG “issuer profile scores” and “credit impact scores” for structured finance transactions rated by the firm. DBRS, too, has released its approach to ESG risk factors in credit ratings.

Non-agency MBS with mortgages originated by CDFIs faces scrutiny from rating services; The Change Company pushes back; MBS and ABS investor preferences on credit scoring models.

Issuance of expanded-credit MBS flowed in the first half of the year even as lenders grappled with higher interest rates. Issuance is expected to slow as lenders work to establish a new supply of loans with higher interest rates.