Political power distorts how private capital is allocated, even among mortgage lending activities, according to a new study.

loanDepot cites faults in wholesale channel; rate locks decline in July; foreclosure activity also down; MISMO seeking comments on various initiatives.

There’s nowhere to hide for non-agency MBS issuers as quickly rising interest rates prompt losses. Loans the issuers are looking to sell have seen limited demand and lose value when retained even short-term.

Fannie and Freddie issued a combined $17.57 billion in CAS and STACR certificates in the first half of 2022, more than in any full year since CRT was invented. (Includes data chart.)

While credit unions will be treated on par with banks, state housing finance agencies will be fully exempted from capital requirements imposed on those participating in the Ginnie MBS program.

Changes to Form FR-2004 help distinguish between the specified pool and to-be-announced positions of primary dealers.

Interest rates have fallen recently but are now going the other way. As for MBS trading and creation, it’s not a pretty picture these days.

Financial issues at Bed Bath & Beyond and Tuesday Morning could lead to performance problems in commercial MBS.

Music investment company Hipgnosis Song Management is set to issue an ABS tied to royalties on 980 songs. The deal received a slightly lower rating than similar ABS from other firms.

After cutting interest rates on its products in late June, UWM expects its gain on sale to decline from 99 bps in the first half of this year to as low as 30 bps in the third quarter.