The company said that despite recent volatility caused by tariffs, it will continue to make additional loan purchases.

MBS trading increased in March, but not dramatically. Still, concerns persist, including Treasury yields bucking historical norms. Ginnie Mae delinquencies are also an issue.

JPMorgan Chase is marketing a prime non-agency MBS with a payment structure typically only used with expanded-credit MBS. Fitch applauded the move.

MBS exempt from Maryland licensing requirements after all; Progress Residential scraps planned single-family rental securitization; ICE offers anonymous requests-for-quote for MBS sales.

At March 31, Dynex owned $8.4 billion in MBS compared to $7.5 billion at Dec. 31.

Few issuers tried to price non-agency MBS in the days following President Trump’s tariff announcement last week. An expanded-credit MBS from Annaly priced at the widest spreads seen in more than a year.

Expanded-credit mortgages, jumbo loans and GSE-eligible collateral in MBS securitizations were all up in the first quarter of 2025. (Includes data tables.)

Not to be forgotten, Canada holds $156.0 billion of agency product.

Shellpoint handled servicing on 26.6% of the dollar volume of non-agency MBS issued during the fourth quarter.

Nothing like a good trade war to drive down MBS values and cause interest rates to rise. Yes, some mortgage investors are nervous. Overblown? We’ll find out.