Will prepayment speeds on agency product continue to decline? No one knows for certain, but the UMBS 2.5 is waiting in the wings to be the new kid in town.
Ginnie Mae buyouts have remained strong this year as more issuers try their luck at the rehab game. But how long might this trade last? Several more quarters, at least. (Includes data chart.)
Priority Financial Network is steamed about the Ginnie application process and is searching for answers. Meanwhile, it could fund $2 billion in loans this year, including conventional, government and non-QMs.
After complaints from MBS investors regarding the reporting of performance of loans in non-agency deals, the Structured Finance Association released voluntary standards that could address the issue.