The interest rate picture is cloudy and MBS trades are heading south. Time to worry? We’ll know soon, or maybe not.

The Fed will reduce its purchases of agency MBS more quickly than initially planned; the Senate confirmed Alanna McCargo as Ginnie Mae’s president; Parthenon Capital Partners will acquire a majority stake in Kroll Bond Rating Agency; KBRA raises concerns about non-agency MBS due diligence sampling practices; United Wholesale offers its first non-agency jumbo MBS.

Securitization rates drifted lower in the third quarter in most segments of the mortgage market, and primary-market originations of agency-eligible loans declined. (Includes data chart.)

Analysts at Keefe, Bruyette & Woods expect prepayment rates on agency MBS to decline further in 2022 as fewer borrowers have incentives to refi.

The latest MBS from Blackstone includes non-agency mortgages for investment properties from various lenders. The firm’s pre-pandemic non-agency MBS were backed by loans from Finance of America.

The “easy money” may be over in the Ginnie early buyout space. Some bidders are paying north of 102 for product.

The mega REITs could be poised for a rebound in share price. Credit, in part, the Federal Reserve?

Fannie Mae’s latest credit insurance-risk transfer transaction included 20 reinsurers taking on $31.7 billion in unpaid principal balance.

Fitch and DBRS released reports outlining the risks, physical or otherwise, of climate change to MBS and ABS. They said impacts varied by area and that vigorous policy efforts could help stem losses.

The House passes legislation to help address legacy contracts for MBS and ABS tied to LIBOR; the SEC expands payment methods for various filing fees; transportation ABS is performing well despite supply chain issues.