No one’s shouting “fire” in a crowded non-QM movie house yet, but there are scattered concerns whole-loan pricing may have gotten ahead of itself. Something to keep an eye on?
Even with the clarification, some suggest VA lenders need more details to understand when they may refinance a loan included in a Ginnie-guaranteed MBS pool.
Overall, delinquency rates for commercial MBS have improved each month since a peak in June 2020. However, loans tied to office and hotels with an emphasis on corporate travel are slower to recover.
Congress is getting closer to passing legislation that would help legacy MBS and ABS transition away from LIBOR; there’s a securitization angle in Zillow’s move to discontinue its fix-and-flip business.
After the FHFA revealed its intent to reduce GSE capital requirements for CRT exposure, Fannie announced plans to get back in the market. (Includes data chart.)
The leaders of the mortgage REIT world posted third-quarter results this week. Bottom line: Strong earnings and common shares that continue to pay a nice dividend.
Moody’s is considering increasing credit enhancement requirements and capping ratings for mortgage warehouse lending securitizations that allow for “wet” loans.