HUD is cracking down on the securitization of high LTV cash-out refis. Coming changes will affect FHA and VA lenders. Meanwhile, the FHFA may be ready to act as well. A big deal or much ado about nothing?

June was an exceedingly strong month for MBS activity with the average trading volume reaching $267 billion, according to SIFMA. But next week all eyes will be on the FOMC: Will the central bank hike or not?

With rates continuing to decline, hedging is paramount these days. Meanwhile, certain banks and thrifts are reporting lower MBS holdings.

MBS creation took off like a rocket in the second quarter and the way lenders are feeling today the good times should last for a few more months at least. But there is a downside: prepayment speeds.

Bullish signs abound for non-QM securitizations. Top-ranked lenders Angel and Citadel Servicing Corp. are coming off record originations for 2Q19. Angel Oak believes the market is underestimated.

With interest rates falling, refis have spiked, creating a wave of principal pre-payments that the Fed has used to cut its MBS holdings.

A sharp increase in the securitization rate of nonprime and expanded-credit mortgages was partly due to seasoned loans and GSE-eligible mortgages. Agency securitization rates were sluggish.

Agency MBS trading hit a yearly low in May. What lies ahead will be determined by the Federal Reserve. Will the central bank ease credit? And if so, what will happen to MBS prepayments?

The Federal Reserve reduced its holdings of agency MBS by $47 billion during the first quarter, but several other investor groups picked up the slack. Total MBS outstanding grew 0.4% during the first three months of the year.