Noting strong demand for non-agency MBS, issuers are getting creative with the types of loans they package into deals. JPMorgan, Credit Suisse, Angelo Gordon and Goldman Sachs are all entering new sectors.
The rating service’s proposal regarding the treatment of private mortgage insurance on GSE risk-sharing transactions and non-agency MBS prompted some concerns from industry participants.
With the non-QM market heating up, opportunities abound for whole loan trading desks, with firms such as Incenter, MIAC, RAMS Mortgage Capital and Situs AMC playing a key role.
PIMCO is set to issue a non-agency MBS with loans sourced from non-QM deals issued by Lone Star Funds. The older MBS were subject to clean-up calls, allowing PIMCO to re-package the loans.
Will President Trump bestow a tax cut on investors in stocks and bonds? Christmas isn't too far away. Meanwhile, corporate landlord Invitation Homes (80,000 homes strong) posted strong results for the second quarter.
June was an exceedingly strong month for MBS activity with the average trading volume reaching $267 billion, according to SIFMA. But next week all eyes will be on the FOMC: Will the central bank hike or not?
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