Relatively strong refinance activity helped dampen growth in outstanding agency single-family MBS during the first quarter, but non-agency MBS posted its biggest increase in years. (Includes two data tables.)
Urban Institute researchers say the mortgage industry will experience slightly better capital treatment as a result of the changes to the Basel III Endgame, but they recommend some improvements.
The ratings service said a “selective, disciplined, transaction-specific approach” is why its single-asset/single-borrower portfolio outperforms ratings by other firms.
Economists note that the pricing of mortgage credit risk depends not only on the quality of the underlying mortgages but also on who ultimately bears that risk.
Ginnie Mae reminded security holders last week that they have the ability to collapse a security group within a multiclass transaction on short notice, an option the agency said has been underutilized.
Byzfunder issued its first ABS last week, a transaction that was three times oversubscribed by investors. Repeat issuers are also ramping up originations and issuance volume.
Annaly Capital Management slipped to second in REIT agency MBS investors as it diversifies into MSR and non-agency. AGNC Investment rose to the top, focused almost exclusively on agency MBS. (Includes two data tables.)