After a two-week lull in issuance of jumbo MBS, a handful of deals hit the market. MBS issuers are facing weak demand from investors, with whole-loan outlets often offering better pricing.

Rising interest rates and widening spreads are prompting more investor-friendly changes to expanded-credit MBS deals.

Issuing a non-agency MBS isn’t cheap; trade groups push for data, timeline if GSEs change credit scoring models; Ginnie reiterates its buyout policy.

Moody’s downgraded some of the tranches in loanDepot’s outstanding warehouse financing securitizations even after the company modified the transactions’ governing documents to meet new criteria.

While investors in fix-and-flip and other business-purpose loans are taking a closer look at loan characteristics and lenders’ practices, lenders are adjusting and considering locking in longer-term financing.

Issuance of expanded-credit MBS slowed in April after a surge in the first quarter. Rising interest rates played a role in both moves.

Most companies that issued non-agency MBS with GSE-eligible investment-property loans during the fourth quarter haven’t offered similar deals thus far in 2022.

Performance of non-agency MBS with manufactured housing loans hasn’t followed the trends seen in other sectors during the pandemic.

Spreads on non-agency MBS issued early this year were wider than the pricing seen near the end of 2021. Industry participants witnessed volatility in the broader financial markets along with an increase in the supply of non-agency MBS.

Issuance of non-agency MBS with deals backed by mortgages bought out from Ginnie Mae MBS has increased in recent months. Once they’re reperforming, those loans can be re-delivered to Ginnie.