The outstanding supply of single-family MBS in the market fell slightly in the first quarter, but you have to go two paces to the right of the decimal point to see it. A new Inside MBS & ABS analysis indicates that outstanding MBS totaled $6.407 trillion as of the end of March. That was down 0.01 percent from the previous quarter, stalling a steady expansion of the market that took place in 2015. And with a modest 0.2 percent increase in total single-family mortgage debt outstanding, the modest contraction in MBS nudged...[Includes two data tables]

A $1.98 billion non-agency MBS issued by JPMorgan Chase Bank in April prompted interest from a wide variety of industry participants, but other big banks appear unlikely to issue similar deals, according to analysts at Moody’s Investors Service. Moody’s was one of the firms to place AAA ratings on Chase Mortgage Trust 2016-1. The deal was unique in that 74.0 percent of the 5,353 mortgages in the MBS were eligible for sale to the government-sponsored enterprises. And it was...

The Urban Institute is warning against Fannie Mae and Freddie Mac putting all of their eggs into one credit-risk transfer basket. The CRT programs at the two government-sponsored enterprises have relied heavily on structured debt notes sold to capital market investors – Freddie’s Structured Agency Credit Risk and Fannie’s Connecticut Avenue Securities – as well as reinsurance. Although the influx of private capital is a good thing, Karan Kaul, research associate with UI, said...

Although Fannie bragged about the size of the CIRT deal, it did not identify its counterparties.

Late this week we were hearing reports about one mortgage cooperative that was trying to strike a deal with one of the GSEs regarding pricing breaks for its members...

Radian Guaranty has voiced its support for Fannie Mae’s updated Desktop Underwriter 10.0 and reiterated its ability to underwrite borrowers with non-traditional credit, one of the changes made in the latest version of DU. The Philadelphia-based private mortgage insurer said it is working on supporting MI applications for borrowers with nontraditional credit through other submission methods, including delegated submissions. Initially, applications will be accepted through MI Online’s “Quick Submit” option, or borrowers may fax or email their application and documents to intake@Radian.biz. Teresa Bryce Bazemore, president of Radian, said nontraditional underwriting is nothing new to Radian, which has maintained a small share of such loans. “We always had the ability to look at those loans and underwrite them manually,” she said. Besides nontraditional credit underwriting, the updated DU 10.0 includes ...

The residential servicing market is a slow-changing glacier…

FHFA chief Mel Watt also points out that the sale of Fannie’s existing properties will result “in substantial additional financial benefits.”

Eventually, Fannie Mae will sell its historic HQ site at 3900 Wisconsin Avenue in Washington, DC, and making a killing on the sale...

In trading Thursday, the share price of PHH’s common stock was down almost 2.6 percent...