Second-level GSE MBS issuance involving excess spread from servicing increased in 2022. Private-equity firms and real estate investment trusts are among the investors buying excess servicing.

As part of its 2024 budget proposal, the White House has asked for a $20.6 million increase in funding for Ginnie Mae.

In a book released this week, former FHFA Director Mark Calabria provides insight into some of the key policy decisions during his abbreviated tenure.

About half of recent loan curtailments have been followed by recasts. For investors in smaller MBS pools, that could be mean a higher weighted average maturity than expected, RiskSpan said in a recent analysis.

CRT transactions from Western Alliance Bank and Pacific Western Bank face scrutiny amid bank failures; impairments on unsecured consumer loans in ABS decline; Credit Suisse and what’s to come.

The RMBS rating business nearly ground to a halt in the fourth quarter, but ECM was the place to be in 2022. ABS fared a little better, with business-finance and consumer deals showing relative strength. (Includes two data charts.)

What ails the mortgage market? Answer: high interest rates. But would creating more MBS buyers ease the pain? At this point, it’s an academic equation.

Agency MBS industry insiders recently discussed specified pools, prepayment rates, home price growth and problems with ESG investing.

Questions raised by the Fed prompted big banks to pause CRT issuance. Also, CRT issuance by the GSEs is expected to slow in 2023.

Ginnie Mae is seeking a new executive vice president and chief operating officer, a position that became vacant just last week.