Where are all the Ginnie Mae applicants? The waiting list has dwindled to a trickle. Reason: The pandemic and related issues.

Investor demand for non-QM MBS is currently near levels seen before volatility in March, helping to sustain issuance volume. The deal flow could slow soon due to limited originations and economic trends.

Loans backing securitized products are holding up fairly well even though the use of forbearance has increased. A combination of investor protections and changes in underwriting practices is helping.

Priority Financial had sued New Residential for reneging on commitments to buy its production during the height of the pandemic. The company also filed similar charges against Angel Oak.

The economic effects of the pandemic have slowed refi activity for investment properties. That, in turn, has dampened prepayment speeds for 100% investment-property pools, Wells Fargo Securities said.

Commercial real estate trade groups have urged the Senate Banking Committee to expand the Federal Reserve’s Main Street Lending Program.

The deal comprises fully collateralized excess-of-loss reinsurance coverage for MI policies written from July 2019 through March 2020.

Extensions on loans in auto securitization deals declined in May after peaking in April. The outlook on loan performance is uncertain.

The New York Federal Reserve purchased $9.81 billion in agency MBS on Monday and Tuesday, in addition to $22.89 billion bought last week. It’s been nearly three weeks since it sold any of its MBS holdings.

Former Ginnie President and current PennyMac Director Ted Tozer thinks so.