Most of the big players in bulk agency MSR transfers were nonbanks, although Chase still ranked as the top buyer at midyear. Co-issuance volume declined as agency MBS issuance waned. (Includes three data charts.)
A revival in the scratch-and-dent market was a bright spot in non-agency MBS issuance in the second quarter. ECM volume held up better than activity in the prime sector. (Includes three data charts.)
Many top agency MSR investors saw big gains in their portfolios during the second quarter, thanks to one of the busiest secondary markets in recent memory. (Includes two data charts.)
Freddie recorded the biggest decline in the agency market, while Ginnie dodged the worst of the downturn. Agency multifamily MBS issuance was up, however, as was non-mortgage ABS production. (Includes three data charts.)
Rising mortgage interest rates are crushing the refinance market and creating headwinds for a struggling housing market. Agency single-family business in the second quarter sank to a three-year low. (Includes two data charts.)