When one window closes, another opens. That seems to be the case when it comes to reducing purchase caps placed by the GSEs on investor loans. Lenders are not happy but investment bankers love it.

FICC, which provides clearing services for most to-be-announced trades, says its existing margin methodologies failed to provide adequate credit protection during the market turmoil last spring.

Freddie’s multifamily unit issues a social bond backed by hundreds of single-family loans that fund the development of community-based group homes.

REIT industry holdings of agency MBS have climbed 8% higher than they were when COVID forced many firms to shrink, but investment in non-agency MBS remains depressed. (Includes data chart.)

In an interview with IM&A, former Treasury official Craig Phillips says capitalize the GSEs and let them go.

Lenders with correspondent networks that buy already-funded mortgages (agency or otherwise) are pondering their sale options.

Prepayment speeds are dropping on agency MBS but there could be choppy waters ahead on VA IRRRLs. For now, VA is staying quiet.

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.