The bulk of loans from the July 6 Term ABS Loan Facility have gone to investors in legacy commercial MBS.

Repurchases of delinquent loans from Ginnie MBS pools jumped sharply in May, including a significant number of performing loans under COVID-19 forbearance plans. (Includes data chart.)

The issue presents a potential conflict in securitization transactions because lenders typically take a borrower’s word on income reporting, according to two Federal Reserve economists.

Social distancing is having a huge impact on the corporate ratings that underlie CLO collateral, and analysts expect most of the damage to fall on speculative-grade tranches. (Includes data chart.)

Industry-wide holdings of residential MBS were steady in the fourth quarter, but several REITs shifted their focus to non-agency MBS and other investments. (Includes data chart.)

Issuance of single-family MBS backed by newly originated loans rose 12.3% from the third to the fourth quarter, while primary-market production was up just 7.9%. (Includes data chart.)

Fannie's massive CAS deal backed by seasoned HARP loans drove credit-risk note offerings to a record $4.54 billion in the fourth quarter of 2019. (Includes data chart.)

Secondary market investors, especially hedge funds and private equity firms, are bidding up the price of non-qualified mortgages. That’s good news for sellers, but can it last?

The loans covered by the GSEs’ loan performance data have much lower default rates than those in their full book of business, according to the AEI.

While the Fed was shrinking its agency MBS portfolio by $54.5 billion during the third quarter, commercial banks increased theirs by $56.2 billion and money managers added $23.8 billion. (Includes two data charts.)