On the rise: cash-window purchases...

Morgan Stanley resumed issuing prime non-agency MBS in December 2020 after years away from the market.

Refinance and restructuring of previously issued deals accounted for 62.8% of first-quarter CLO and CDO issuance. A total of $47.94 billion of such deals hit the market...

It's like "free" money...

While the limit is near the level of GSE acquisitions of non-owner occupied properties in recent years, the way the cap has been implemented is prompting lenders to seek new outlets.

Fannie Mae continues to take a dim view of the capital relief it gets for CRT activities under the enterprise regulatory capital framework...

The main buyers of jumbos? Answer: commercial banks, accounting for 54.6% of purchases from unaffiliated sellers...

As one company official explained, “This gets us off the bank balance sheet.”

Additional non-agency MBS with GSE-eligible mortgages for investment properties are expected due to new limitations on Fannie/Freddie acquisitions of such loans.

The FHA program remains a go-to choice for first-time homebuyers...