Ocwen Financial is ramping up its servicing/MBS issuance game in a new deal with Texas Capital Bank.

Mortgage trading narrowed this spring at a time when rates were rising. Lo-and-behold, rates are headed south once again. But inflation fears are accelerating. What’s an MBS owner to do?

“Issue debt while you can.” That seems to be the mantra of nonbank mortgage lenders and even real estate mortgage investment trusts. The latest sellers: UWM and PennyMac.

Fannie Mae and Freddie Mac are taking different approaches to unloading the reperforming loans in their portfolios.

What a difference a year can make. Last spring, the REIT was getting margin-called and selling MBS. Today, it’s buying huge mortgage banking franchises.

Loan prices for second homes and investment properties are getting whipsawed, giving bottom feeders the upper hand. Credit the FHFA.

An asset manager based in Toronto agreed to acquire Annaly’s commercial business. The REIT will put an even greater emphasis on its investments in residential MBS.

Last March, major dealers simply didn’t have the liquidity to accommodate the volume of agency MBS being sold. Would a clearing facility speed up settlement enough to prevent a similar market failure in the future?

A 30-day average of SOFR would make a good replacement for LIBOR when pricing new MBS and ABS, according to a recommendation from a committee of industry participants convened by the Fed.

Securitizing mortgages can be expensive and recent PSPA changes might force the hand of smaller lenders, at least that’s how some trade groups see it. (Includes three data charts.)