FirstKey Mortgage is prepping a rare residential MBS backed entirely by manufactured-home loans.

An “explicit” guarantee on Fannie/Freddie MBS was once a non-starter with Republicans in Washington. But the Trump administration is unlike your grandfather’s GOP. Just maybe, an explicit guarantee might work.

FHFA and Treasury are close to signing a letter agreement that will eliminate the profit sweep by month-end, according to the agency’s director.

The average daily trading volume in agency MBS reached a yearly low in August as rates troughed. A rebound could lay ahead. Or maybe not.

Issuers and investors in the securities market are divided on what exactly should be done with the qualified mortgage “patch.”

Year-to-date CLO issuance lagged behind the pace set in 2018 because of a slowdown in refinance transactions. Octagon Investment Partners was the most active sponsor at midyear.

The Treasury Department envisions a multi-year recapitalization of the GSEs. Secretary Steven Mnuchin told the Senate Banking Committee on Tuesday that the process is already underway.

The agency has removed restrictions on NewDay USA and Sun West Mortgage from including VA single-family loans in multi-issuer pools.

A whole business securitization from TGI Friday’s was downgraded by Kroll Bond Rating Agency. Meanwhile, two such deals hit the market.

If the U.S. economy enters a recession, MBS and ABS are expected to perform relatively well, according to S&P. Subprime auto ABS, certain commercial MBS and CLOs are most at risk for downgrades.