The flows into commercial MBS of loans backed by office properties, retail facilities, hotels, apartments and industrial properties were all down sharply from the fourth quarter, a victim of the economic damage caused by the COVID-19 pandemic.

A FHFA spokesman told Inside Mortgage Finance the pricing approved by the agency is “fair and reasonable. He added: “We have heard these loans would sell for much lower prices (15-20% discounts) in private markets.”

The reaction from some trade group officials was swift. Scott Olson, Executive Director of the Community Home Lenders Association, called the new COVID-19-related guidelines “totally inadequate.”

At yearend, consumers owed $11.168 trillion on their first liens, according to Inside Mortgage Finance, which means the dollar volume of residential loans under forbearance now totals $664.5 billion.

Other non-agency MBS in the pipeline include offerings backed by reperforming mortgages...

Another day goes by, and more pleas to Uncle Sam to fix the MBS liquidity problem. What will it take?

First Horizon wants FICOs of at least 670 and will only provide credit on conventional and government loans.

Ginnie MBS data show an increase of 72,224 loans recorded as 30 days past due from February to March. Some 56,266 of those newly delinquent loans were FHA-insured.

The Ginnie Mae portion is $130 billion: Forbearance requests on 5.89% of $2.2 trillion worth of FHA/VA loans that back GNMA MBS.

In a nutshell, depository institutions managed to increase their sales of refinance loans sequentially while IMBs saw a drop...