We also are hearing reports that TRID errors and closing delays definitely will be affecting first quarter 2016 earnings, at least for certain nonbanks…

For lenders, the best scenario is that an arbitrator might rule in their favor, with a GSE reimbursing them for what Fannie and Freddie call “certain costs and expenses.”

While most players holding non-agency MBS have seen their investments decline, two types of investors actually increased their holdings...

One company that confirmed its interest in scratch-and-dent TRID loans is Mid America Mortgage.

All three agencies posted big increases in multifamily MBS issuance last year, with Freddie (up 65.4 percent) and Fannie (up 36.4 percent) leading the way…

The surging multifamily housing market in the U.S. was a major factor in the huge increase in commercial MBS issuance last year, according to a new Inside MBS & ABS analysis. A total of $206.66 billion of income-property mortgages were securitized during 2015, a 22.6 percent increase from the previous year. It was the strongest annual output of commercial MBS since 2007, the year before the wheels fell off the non-agency CMBS market. New issuance rebounded...[Includes one data table]

The credit quality of U.S. conduit/fusion commercial MBS kept degrading during the fourth quarter of 2015, while conduit loan leverage is rising and is expected to continue to do so, according to a new report from Moody’s Investors Service. Conduit loan leverage as measured by the Moody’s Loan to Value (MLTV) ratio ticked upward from 118.2 percent in the third quarter last year to 118.9 percent in the fourth quarter. This is the third time in which that metric has topped the pre-crisis peak level of 117.5 percent, the ratings service said. Further, the conduit loan MLTV rose...

Clean-up calls were recently completed on three jumbo MBS issued by Redwood Trust in 2010 and 2011, marking the first such actions on post-crisis jumbo MBS. While MBS investors can take some losses when clean-up calls are completed, analysts suggest that’s not currently much of a concern for post-crisis jumbo MBS. Holders of clean-up call rights, typically servicers, have an option to purchase the remaining loans in an MBS when the outstanding balance of the deal falls below a certain threshold. Redwood completed...

For full-year 2015, the average daily trading volume for agency MBS improved by 9.2 percent from the year prior to $194.4 billion, according to figures compiled by the Securities Industry and Financial Markets Association. Although that might seem like something to crow about, there’s some bad news in the numbers: December marked the worst reading of the year with an average daily trading volume of just $149.2 billion. No other month comes close, not even November at $180.2 billion. Over the past 10 years, 2015 will go down...

Federal courts and a state attorney general have been busy this past week churning out decisions and announcing settlements on a number of cases involving legacy non-agency MBS, Wall Street financial institutions and pension funds. A hearing on a proposed $272 million cash settlement of two class-action lawsuits against Goldman Sachs involving legacy MBS will be held on April 13, 2016, at 10 a.m. in U.S. District Court for the Southern District of New York. Attorneys for the plaintiffs, NECA-IBEW Health & Welfare Fund and the Police and Fire Retirement System of the City of Detroit, sent out...