Geopolitical events halfway around the world are affecting interest rate moves in the U.S. It’s possible that mortgage rates could move lower in the immediate weeks ahead. Otherwise, the crystal ball looks cloudy.

Moody’s placed AAA-rated tranches from four warehouse securitizations on review for potential downgrades following a revision to rating criteria that includes harsher treatment of deals that allow for wet loans.

Mike Calhoun touts turning the GSEs into public utilities and using the government’s stake in them to address the homeownership gap.

Ginnie Mae is looking for ways in which smaller and less well-capitalized entities can access its securitization platform.

Issuance has started with a bang in 2022 as commercial MBS performance in 2021 continued to beat market expectations.

MBS trading resumed at a measured pace in January, but for now uncertainty rules the roost. The FOMC meets next month. Strap in that seat belt.

Still some milk left in the EBO cow? As Jay Bray of Mr. Cooper put it: “With forbearance programs winding down, the EBO opportunity is rapidly diminishing.”

Goldman Sachs continues to spread its wings in the non-agency MBS market. Last year, the firm tripled its non-agency issuance from 2020.

A $732.6 million ABS tied to music royalties closed this week. Other esoteric ABS in the market include healthcare-related financing, shipping container leases and property tax liens.

The GSEs combined netted $7.93 billion in fourth-quarter profits on $13.21 billion in net revenue while shrinking their retained mortgage portfolios by $4.45 billion. (Includes data chart.)