SFA's Michael Bright: It looks like jumbo MBS has the highest probability of being included in an expanded TALF...

According to the offer circular, the package (19 loans in total) also boasts an average FICO score of 721. Roughly 30% of the paper is based in California, with representation in Florida and Texas as well.

The flow of first-time buyer loans was up 20.0% from the first five months of 2019...

The planned MBS will be stocked with mortgages originated earlier this year, before volatility paused non-agency MBS issuance.

Wells Fargo is maintaining its steady issuance of jumbo MBS while other issuers largely avoid the market.

Depositories reported $3.360 trillion of servicing for others on their books at the end of March, down a stunning $244.76 billion from 4Q19...