The non-agency conduit of private mortgage insurer Radian Group expects to issue more MBS following success with its first deal.

Researchers show that an increase in uncertainty about the Fed’s balance sheet policy boosts the yield on long-term Treasuries and increases the duration of non-agency MBS.

UBS is seeking at least $200 million from the bank for failing to pay legal fees for two lawsuits dating back to 2010.

Non-agency securitization involving home equity increased by 39.3% in the second quarter even as some big players pulled back. Issuers that weren’t active in the first quarter helped fill the void. (Includes two data tables.)

Rithm will restate financials going back to 2021; commercial lending executives expect MBS issuance to remain strong; new wildfire risk mitigation recovery bond.

Much of the second-quarter gain came from NPL/RPL and home equity securitizations. Prime MBS issuance in the first half was up three-fold from last year, while ECM production was up 32.7%. (Includes data tables.)

The non-agency market could gain from a reduction in GSE loan limits, revision in capital requirements for banks and updated requirements for publicly registered securitizations.

The mortgage insurer’s non-agency conduit started aggregating loans in late 2022.

The new platform uses blockchain to make it easier to verify fixed-income assets and to decrease trading timelines.

Fitch Ratings sees relatively smooth sailing for residential MBS this year while times are tough in the CMBS market, and the worst could be yet to come.