Since early September, at least 14 mortgage company acquisitions have been announced publicly, according to a database of deals compiled by Inside Mortgage Trends.
New MBS and ABS issuance last year was down 34.4 percent from 2013, largely due to a huge decline in agency single-family MBS production, according to a new Inside MBS & ABS analysis. A total of $1.145 trillion of residential MBS and non-mortgage ABS were issued during 2014, the lowest annual production volume since 2000. Last year got off to a very slow start, with just $517.0 billion in new issuance through the first six months of 2014, before gaining pace during the second half. Total issuance fell 4.8 percent from the third to the fourth quarter. Agency MBS remained...[Includes three data charts]
The U.S. non-agency MBS space is looking more inviting these days, even though progress is painfully slow and there remains plenty of room for improvement, analysts at Fitch Ratings have concluded in a report out this week. The Fitch analysts said that the underwriting of residential mortgages has improved dramatically since the financial crisis, with recent vintages demonstrating the best performance on record so far. “New legislation has completely eliminated...
MBS investors this week continued to bid up the price of agency product in the wake of rock-bottom oil prices and economic fears about Asia, Europe and any oil-producing nation that relies too heavily on the energy sector. According to figures compiled by MBS Quoteline, at one point this week investors were paying 105.10 for Fannie Mae MBS with a coupon of 3.5 percent. Back in October the bid on the Fannie 3.5 was a mere 101.83. “Who would pay 105...
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