Redwood's latest MBS includes somewhat older loans and a mix of super-prime mortgages and expanded-prime collateral.

Issuers are largely meeting Ginnie's capital requirements, though liquidity remains a concern.

The GSEs issued $192.18 billion of Supers in the fourth quarter, a 65.5% boost from the previous period...

The SEC’s proposed rule on conflicts of interest in the securitization market would limit many types of CRT issuance...

Up until now, FirstKey’s securitization activity has been focused on seasoned collateral.

Note: It doesn’t appear that banks are selling MBS in any grand way.

Non-QMs in the MBS have an average coupon of only 5.00%.

It's bad enough MBS investors have to forecast rate moves by the Fed. Now they have to interpolate concerns about debt ceiling game-playing in Congress.

Only two prime non-agency MBS were issued during the fourth quarter of 2022.

Ares is a publicly-traded alternative investment manager with $352.0 billion of assets under management.