Profits in the fourth quarter weren’t enough to offset losses incurred earlier in the year by Annaly and Two Harbors. Meanwhile, a REIT with a non-agency focus turned a profit.

One of the largest REIT investors in the MBS market took a loss of $266 million in 2020, with gains in the final three quarters unable to wipe out the red ink posted in the first quarter. Still, officials at AGNC are optimistic about the future.

Have Federal Reserve policies, and the flood of refis that they’ve created, permanently altered MBS markets?

The latest transaction is an actual loss deal issued through a trust; previous Multifamily Structured Credit Risk deals were structured as fixed-severity deals issued as corporate debt.

In 2020, mortgage records were broken all over the industry. MBS trading, meanwhile, had its best year since 2010.

Freddie’s green loans have accounted for a cumulative savings of 827 million gallons in water consumed, and more than 152 million kilo-BTUs in energy savings. In raw cash terms, that comes to more than $11 million in savings per (multifamily) loan.

Commercial banks, savings institutions, credit unions and the Federal Reserve continued to buy agency MBS during the third quarter. Fannie and Freddie drove a 2.2% increase in residential MBS outstanding. (Includes two data charts.)

Spreads between mortgage rates and interest paid on MBS have fallen to about 75 basis points. The long-term average is closer to 110 bps.

Word is out: Money can be made in the Ginnie EBO space. The strategy is attracting investment funds but it’s not as easy as you might think.

Speakers at this year’s ABS East conference — held online — focused on how the coronavirus impacted assets and the outlook for 2021.