AG Mortgage Investment Trust lodged a competing bid for Western Asset Mortgage Capital; Fannie, Freddie, Ginnie added to MBS disclosures; RMF sold some reverse mortgage MSRs.
A suggestion for limiting interest rate risk at banks; tighter spreads for Fannie’s new CRT; Victory Park Capital launches structured finance unit; and more.
Ginnie Mae MBS issuance finally caught up to sharp declines in primary-market originations, while ECM securitization was buoyed by more-seasoned loans.
The rounding of home prices in HMDA data complicates the calculation of whether loans below the conforming loan limits are more likely to be securitized into agency MBS in areas affected by climate change.
Money-market funds were the most aggressive buyers of MBS during the first quarter, and analysts think demand from the sector will last. (Includes three data charts.)