Agency MBS investors are looking forward to the Fed cutting interest rates twice this year. However, they warned that something unexpected could prevent the Fed from cutting rates in September.

The volume of loans removed from Ginnie MBS increased by nearly 20% in the second quarter, driven by borrower loan payoffs. (Includes two data tables.)

Two large REIT investors in agency MBS incurred losses in the second quarter, due to interest rate volatility and an unaccommodating monetary policy stance. Still, they are optimistic about the future.

The Heritage Foundation’s Project 2025 calls for the end of the GSE conservatorships and a dramatically reduced role for the Fed.

Non-QM REIT Angel Oak is out with its first “baby” bond offering — $50 million worth of five-year notes.

With the yield on the 10-year Treasury reaching multi-month lows of late, MBS investors see smooth sailing to a rate cut by the Fed.

The new PCs will provide investors more flexibility and efficiency by allowing them to consolidate smaller securities.

Fitch Ratings sees relatively smooth sailing for residential MBS this year while times are tough in the CMBS market, and the worst could be yet to come.

Fed researchers quantify the effect of BTFP’s use of par valuations for collateral during the 2023 banking crisis.

Cherry Hill plans to drop its external manager, consider additional strategic options; FHFA publishes historical VantageScore data; Computershare, NewRez receive master servicer ratings; commercial MBS from Morgan Stanley downgraded.