The mismatch between falling interest income at the Fed and growing interest expense is projected to result in deferred assets of between $60 billion and $150 billion.
The two largest REITs in terms of holdings of agency MBS noted extreme volatility in the second quarter while also suggesting that market dynamics are set to improve.
A federal appeals court panel ruled that the SEC didn’t act on the whistleblower’s information about misconduct at RBS even though it passed the information to the DOJ and FHFA, which reached settlements.
The unprecedented concentration of Black women leadership in the housing finance industry is an opportunity to make changes that have been long overdue, according to Ginnie Mae President Alanna McCargo.
MBS and ABS participants gathered in Las Vegas this week, discussing volatility and weak demand from investors. The consensus? Buyers will remain cautious until getting a better handle on the Fed’s actions.
FHFA is working on an alternative to the single counterparty fee, triggered by a controversial provision in the new capital rule, that requires the GSEs to hold capital against one another as counterparties.
Angel Oak Director Robert McDonough noted the difficulties in pricing climate risks into securities. However, once investors can more actively analyze risks, residential MBS loan pools are likely to change, he said.
Lower origination levels continue to impact agency MBS trading volume. Meanwhile, credit quality fears are starting to gain traction in some quarters of the industry.
Spreads on various types of residential MBS are wider than they were during the early days of the pandemic, suggesting that the assets aren’t particularly attractive to investors. However, that isn’t necessarily true.
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