The reputation of being a safe, liquid asset adds about 47 basis points to the “convenience premium” of agency MBS over investment grade bonds, according to the National Bureau of Economic Research.

Issuance of agency real estate mortgage investment conduits/collateralized mortgage obligations was essentially flat in 2021, with Ginnie sharply increasing its volume while GSE issuance declined. (Includes data chart.)

The Structured Finance Association is assessing investors’ and brokers’ preferences for replacing LIBOR in structured finance bonds.

Higher conforming loan limits likely helped agency MBS issuance edge slightly higher in January. But the market started 2022 well behind its pace a year ago. (Includes two data charts.)

The number of newly minted Ginnie Mae issuers has fallen dramatically the past year. Something to worry about or the byproduct of the mortgage industry’s cyclicality?

It took seven or eight months for primary mortgage rates to reflect the Fed’s massive intervention in the secondary market.

The Ginnie Mae issuer market is dominated by nonbanks but at least one issuer/servicer is heading for the hills: Home Point.

A recent white paper from three academics attempts to cast some light on the practice of Ginnie Mae EBOs. But should the end investor be worried?

Bridge Investment Group, a major player in the multifamily sector, said the proposed changes to the enterprise regulatory capital framework could actually increase the capital requirements for the GSEs.

The new Ginnie Mae MBS pool type will contain loans that were modified to extend beyond the traditional 30-year terms.