Billions of dollars in delinquent FHA/VA mortgages are still available for purchase in the whole-loan market if you have the knack for rehab-and-release. But for how long?
In case you haven’t noticed, MBS prices are sagging a bit these days, courtesy of higher interest rates. Trading volume is lower, but not exceedingly. What’s ahead? Mostly fog.
The performance of MBS and ABS isn’t expected to be directly impacted by the fallout of Russia’s invasion of Ukraine in the near term; prepayment rates on agency MBS declined in February.
Fannie, Freddie and Ginnie issued a combined $187 billion of single-family MBS in February, a steep 21.5% decline from January. It was the lowest monthly issuance since March 2020. (Includes two data charts.)
Nonbank boosters continue to fear Ginnie Mae’s final capital rule may not accurately reflect the intrinsic value of MSRs. Others fear it could be too soft.