Investors in Freddie’s new When-Issued K-Deal have the right to exchange them for K-deal A-M certificates to be issued in the future.

Nonbanks, risky or not for the MBS market? Ginnie Mae’s new capital proposal may finally settle the question. If it becomes final...

Unpacking the transition from cash seller to guarantor. MCT experts and Freddie officials explore differences in pricing, servicing, and operations.

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.