Demand for non-QM MBS has returned to pre-pandemic levels even though the deals include a significant amount of loans in forbearance and fewer protections for investors.

But that’s easier said than done. The CMBS structure prohibits borrowers from taking on additional debt and includes a prepayment penalty clause, Federal Reserve Chair Jerome Powell pointed out.

Much of the criticism from the GOP concerned the re-proposed capital rule for Fannie Mae and Freddie Mac, which will reduce the capital relief the GSEs receive for credit-risk transfers.

Now may not be the best time to expand in the commercial MBS space, but SitusAMC has bought the assets of Cohen Financial. A contrarian play?

Another day and another debt offering by a mortgage company. This time around the issuer is PennyMac Financial, a top-ranked Ginnie Mae issuer.

With revenue lower than expected due to the coronavirus pandemic, California is allowing electric utilities to use securitization to avoid sharp rate increases for customers.

Ginnie Mae said it is ready to facilitate the creation of a single-class MBS backed by ARMs linked to the Secured Overnight Financing Rate.

Following in the footsteps of Citi and JPMorgan Chase, Wells Fargo is preparing to issue a non-qualified mortgage MBS. The bank plans to securitize small pools of its non-agency originations on a regular basis.

Ginnie Mae buyouts have simmered down the past few months but the improvement may be ephemeral. And nonbanks might be leading the charge.

Facing pressure from both sides of the aisle, FHFA Director Mark Calabria said if the GSEs had come into the current crisis with sufficient capital, the adverse market fee could have been delayed for a few years.