Some fees paid by mortgage insurers for loans included in nonperforming loan sales were not passed through to related credit-risk transfer deals.

Prepayment rates are suppressed due to elevated interest rates, prompting runoff in the Fed’s MBS portfolio to be well below the monthly reduction cap.

Annaly Capital Management highlighted how environmental, social and governance principles factor into its activities. Leaders at the REIT said ESG analysis can help Annaly deliver “superior” returns.

Freddie posted the biggest monthly gains among the three agencies, although Ginnie was still the biggest issuer. Volume was up for both purchase and refinance business.

Data show that, in the wake of natural disasters, lenders are more likely to approve, originate and sell mortgages to the government-sponsored enterprises. This raises issues of moral hazard and adverse selection, according to economists.

Share prices of real estate investment trusts have suffered for years. But could a rebound be on the horizon, ushered in by merger-and-acquisition activity?

Lower demand and drastically reduced issuance may balance out in the MBS market. Meanwhile, high spreads mean the asset could attract new investors.

Numerous industry participants support FHFA developing a social bond designation for single-family MBS issuance from the GSEs. There are lingering concerns about the impact on the agency MBS market and borrower privacy.

The need for Ginnie Mae nonbank issuers to have ongoing access to capital is key to their success, and that informs the agency’s approach to policy and risk management, said Ginnie President Alanna McCargo. 

With mortgage banking profits under pressure these days, sleep is still being lost over what might go wrong in the nonbank sector regarding Ginnie Mae obligations. One idea: a commercial paper backstop.