The Consumer Financial Protection Bureau last week released its proposed rule to clarify a number of issues related to its integrated disclosure rule known as TRID – and perhaps the single most significant aspect of the proposal for mortgage investors is what it does not include: any additional provisions to cure loan errors. Some observers believe that could be a negative for the secondary market. On the other hand, the bureau did provide...
The agency single-family MBS market gained speed for the sixth consecutive month in July and appeared on track to top last year’s annual total by the time 2016 is over. According to a new Inside MBS & ABS analysis and ranking, Fannie Mae, Freddie Mac and Ginnie Mae produced a hefty $129.30 billion of new single-family MBS in July. That was up 7.7 percent from June and represented the biggest month in new issuance since August 2013. While the year-to-date totals were still slightly below the volume produced in the first seven months of 2015, this year’s market probably hasn’t...[Includes two data tables]
The senior tranche of the MBS will include credit enhancement of 6.40 percent, similar to the credit enhancement levels of previous deals from Two Harbors.
MBS investments by most of the nation’s publicly traded mortgage real estate investment trusts continue to be in a holding pattern these days as they figure out what to do in an environment of declining interest rates and accelerating prepayment speeds. Market leader Annaly Capital Management held $64.9 billion of agency MBS at midyear, down ever so slightly from the prior quarter. Compared to June 2015, Annaly’s MBS portfolio was off 4.1 percent. American Capital Agency Corp., Annaly’s closest competitor in terms of REIT MBS investing, saw...
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