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.

Ginnie issued around $27.10 billion in MBS with single-family mortgages in January, a 5.7% decline from December and notably smaller than that month's decline of 14.2%.

The new firm, based out of New York, matches investors and lenders and wants to enter the securitization space this year.

Neither Fannie Mae nor Freddie Mac issued a traditional credit-risk sharing transaction in the fourth quarter.

Upwards of $1.0 billion of non-QMs are sitting on warehouse lines that would have typically been sold months ago, according to one estimate.