It’s getting difficult to project mortgage rates in the near term, putting pressure on agency MBS investors. Still, analysts at BofA Global Research maintain an overweight for holdings of agency MBS.
The SEC alleged Macquarie Investment Management Business Trust’s valuation practices for collateralized mortgage obligations violated the Investment Advisors Act and the Investment Company Act.
Hodgepodge of non-agency MBS; new commercial MBS tied to Rockefeller Center; limit-order option for lenders looking to sell into TBA MBS; Moody’s downgrades MBS issued by IndyMac in 1997.
Deals rated by Moody’s successfully navigated the end of LIBOR reporting; vintage MBS wrapped by MBIA downgraded; GSEs, Ginnie increase MBS disclosures; ICE offers emissions estimates for MBS; new TBA trading app from South Street Securities.
Issuance of residential MBS was up 11.9% in the third quarter, thanks to a decline in interest rates that sparked increased refinance activity and bolstered purchase-mortgage lending. (Includes three data tables.)
Fed researchers say most mortgages will remain out of the money for the foreseeable future, which means redemptions of MBS in the Fed’s portfolio may remain below the cap of $35 billion per month.
Initial estimates on Hurricane Helene’s impact; Ginnie to host summit with a focus on nonbanks; MSR financing securitization from Freedom; T-Mobile moves forward with cell phone financing ABS.
FINRA received approval from the SEC to shorten reporting requirements for most trades of MBS and ABS from within 15 minutes to within one minute of a deal having transpired.
It’s been a quiet year when it comes to new stock issuance from mortgage REITs. But thanks to the Fed trimming rates by 50 basis points, with another 50 bps in cuts expected, activity could pick up markedly.
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