Annaly Capital Management is preparing to issue a rare non-agency MBS stocked solely with bank-originated adjustable-rate mortgages. Loans in the MBS were originated by Associated Bank.

Declining multifamily valuations are pushing up capitalization rates while reducing debt service coverage ratios.

Bank of America issued a resecuritization this week tied to a 2017 multifamily K-deal. It’s the first rated issuance of its kind from BofA since 2016. The new resecuritization received an A- rating.

While securitizations are often the best execution for Ginnie Mae loans, small and mid-sized GSE lenders will typically prefer the cash window.

AG Mortgage Investment Trust lodged a competing bid for Western Asset Mortgage Capital; Fannie, Freddie, Ginnie added to MBS disclosures; RMF sold some reverse mortgage MSRs.

Agency MBS industry insiders recently discussed specified pools, prepayment rates, home price growth and problems with ESG investing.

While Fannie Mae and Freddie Mac are the dominant outlets for eNotes, other entities are looking to boost adoption of the technology. Ginnie Mae has seen greater enthusiasm for eNotes than anticipated since launching its program in early 2021.

The GSEs’ social disclosures should be as granular and specific as those reported for credit-risk transfer deals, according to investors.

With lenders pushing mortgages that include a temporary buydown feature, MBS investors are pondering prepayment behavior for the loans. Expect loans with temporary buydowns to exhibit prepayment speeds similar to ARMs, according to an industry analyst.

Freddie Mac issued 84 green single-family mortgage-backed securities in 2021 that save 192,168 million BTUs of energy per year.