“There was a surprisingly strong reading of core PCE inflation,” said Joel Kan, a vice president and deputy chief economist at the Mortgage Bankers Association.

Achieve Home Loans is expected to close a $170.1 million HELOC MBS later this month.

The deadline to comment on Freddie Mac's proposal to acquire second liens is May 22.

Securitization of closed-end second liens more than doubled in the first quarter of 2024 compared with the previous quarter.

Non-agency MBS issuance totaled $16.90 billion in the first quarter, up 66.9% from the fourth quarter.

Ginnie said the new loan-level default data will help it “better understand servicer liquidity stress and loss mitigation outcomes and improve sampling methodologies.”

Applications increased even as interest rates rose.

The offering from Chase's conduit is the largest jumbo MBS from the conduit since 2022. And Chase is doubling up, with a separate deal stocked with mortgages originated by the bank.

Fun fact: Expanded-credit deals were the biggest source of new issuance in the first quarter...

Non-QM lenders appear to be faring a little better than their conventional and government brethren...