It’s not every day that bond-investing giant PIMCO pulls out of a market, but for now the whole-loan buyer is avoiding non-QMs. Also, part of the story: the closures of FGMC, Maverick and Sprout Mortgage.

Moody’s and other rating services are optimistic about the near future of the CMBS market, with continuing drops in delinquencies expected. Some sectors are performing worse than others.

Investors tendered debt notes worth slightly more than 82% of the original principal amount.

Ginnie Mae President Alanna McCargo wants industry participants and governments to find more ways to expand liquidity for small lenders and community development financial institutions.

Western Alliance Bank completes non-agency CRT deal; CME Group plans TBA futures; Hertz ABS upgraded thanks to change involving Teslas.

Sponsors of non-agency mortgage-backed securities have been busy of late. One goal is to clear out older, lower-yielding paper. At least two recent deals fit the bill and more could be on the way.

When the financial outlook weakens, equity prices suffer and debt prices soon follow. Mortgage REITs are no exception. But overall, the cohort is holding up better than nonbank lender/servicers.

Industry groups argue that assessing fees on commingled collateral could undermine market confidence in the UMBS.

The $74 million loss on a commercial MBS conduit loan lines the pockets of investors, like Carl Icahn, who have shorted brick-and-mortar retail.

The REIT has built up strong residential and MSR businesses to diversify risk and support its agency prowess. And while it’s held back on increasing leverage, once volatility declines, all that may change.