More liquid is better than less liquid, especially during a refi bonanza...

The proposal is modeled after the FHA's partial claims program, though there are differences...

Nearly 30% of borrowers with loans in the deal have received forbearance or a deferral. The servicer, Citadel, will not make advances on delinquent payments.

Among the top five agency MBS issuers for the 30-day period, just one was a depository: Wells Fargo at number three.

MBA's Marina Walsh: “Soaring production revenues – led by strong secondary marketing gains – drove these results and more than offset an increase in production expenses.” 

Quicken Loans is the top contributor to the new Morgan MBS, accounting for 36.3% of the collateral.

Ginnie Mae single-family MBS issuance fell slightly from October but remained at near record levels. All told, the three agencies pumped out nearly $355 billion last month, a 5% gain from October.

The FHFA's capital requirements for the GSEs don't exactly favor CRT transactions but the Biden administration is expected to encourage the deals.

Time to start planning for the 13th anniversary of the Fannie/Freddie conservatorships...

The irony of the regulatory call: Many nonbanks are posting record profits and six firms are in the process of IPOs...