Commentators seem to agree that stronger capital positions are good for the Ginnie Mae business in general, but getting there is the hard part.

In the past six years, repos backed by MBS nearly doubled to roughly $400 billion a day, a new Federal Reserve study found.

It’s easier for banks to complete buyouts of mortgages from Ginnie MBS than nonbanks due to banks’ funding advantages. Nonbanks are also increasingly modifying mortgages rather than offering partial claims. 

The end of the QM patch — thanks to a maneuver by the FHFA and Treasury — could help the non-agency market compete with the GSEs.

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

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

Improvements in Collateral Underwriter mean field reviews of appraisals will no longer be required.

Notes backed by MSRs could become plentiful if a strategy employed by PennyMac Financial and its sister company catches fire.

The Ginnie early buyout game is still afoot with whole-loan auctions fanning the flames. But how much longer can the gravy train last?

With both Fannie and Freddie now issuing green single-family and multifamily MBS, the enterprises have become a favorite for investors seeking environmentally or socially responsible assets.