The securitization rate for residential mortgages increased each quarter in 2023. Though on an annual basis, the rate was steady. (Includes data table.)

Banks are reducing their appetite for mortgages, providing opportunities for nonbanks to boost their investment in the mortgage market. Redwood Trust looks to be leading the way in terms of bank partnerships.

The Structured Finance Association, which is developing a compliance tool to facilitate uniformity in the non-agency MBS market on QM standards, has run into a vexing issue regarding the definition of a QM.

Angel Oak Capital Partners introduced an investment program tailored to increase insurance company investments in non-agency whole loans and securitizations.

Fitch updated 61 non-agency MBS following changes to its structured finance rating criteria in January.

The diversification inherent in MBS may be the ideal tool to combat climate risk in housing finance.

Ratings for MBS with residential transition loans are helping to increase investor demand.

Great Ajax received a loan from Rithm Capital and moved to have Rithm serve as external manager of the REIT. Rithm plans to have Great Ajax invest in commercial mortgages.

Attendance at the SFVegas conference this year hit another record. Demand for MBS and ABS is exceptionally strong, with few concerns on the immediate horizon.

New prohibitions against conflicts of interest in the MBS and ABS market will take effect in June 2025. But SEC officials are urging industry participants to raise compliance concerns, if any, as soon as possible.