It's no surprise that the massive agency refinance boom showed signs of fizzling out, but purchase-mortgage business slumped just as housing season rolled into high gear. (Includes two data charts.)

Investing in Ginnie Mae EBOs has been a profitable maneuver but with the forbearance picture improving, finding product to buy could get harder.

One originator of investor loans calls the profits “sweet,” though he’s not too sure why the FHFA did what it did.

As the FHFA cracks down on investor-loan volume, opportunities are being created anew. Also, FHFA, apparently, is losing sleep over GSE CMBS. (That’s correct.)

Since 2013, CRT has cost Fannie Mae and Freddie Mac a combined $15 billion, but provided just $50 million in benefits, according to a new FHFA report.

MBS trading is drifting lower in a rising rate environment, but the outlook remains cloudy as mortgage bankers wonder how many more months they have left before refis drain for good. Or will they?

Analysts argue that resolutions plans for the GSEs are purely theoretical devices because the government will never let them fail.

Also, first-quarter results from Invitation Homes and Americans Homes 4 Rent — the two corporate SFR giants — show an increase in business.

CPRs are headed in the right direction for MSR and MBS investors but for how long? Some forecasters see a rate decline coming in the fall.

Economists looked at security issuance, guarantee fees and prepayment speeds to gauge the market impact of the uniform MBS.