A big chunk of the gain in auto ABS came at the top of the list.

Most of the downturn was in refinance activity, but GSE acquisitions of purchase-money mortgages also fell slightly last month.

The pipeline of unresolved buyback requests swelled to $876.0 million at the end of March, a 19.6% increase from the previous quarter.

Freddie Mac noted that, as of the fourth quarter of 2020, the U.S. had a housing supply deficit of 3.8 million units and that between 2018 and 2020, that deficit increased by an astounding 52%.

It's no secret that MSRs can be a volatile asset. But banks continue to dump servicing rights even as they increase in value. A smart move?