PennyMac founder and Executive Chairman Stan Kurland: "While the correspondent market remains competitive, margins appear to be stabilizing as they were essentially unchanged from the prior quarter at 29 basis points..."
To date, Fannie has upstreamed $179.0 billion in quarterly dividends to Uncle Sam versus assistance draws of $118.9 billion, giving it an account surplus of $59.2 billion...
The non-agency market, which is dwarfed in size by agencies, saw $3.0 billion in securities change hands on a daily basis in March, the strongest reading since June of 2018.