Securitization rates held steady in the second quarter for conventional-conforming as well as government-insured mortgages. In the non-agency market, demand from MBS investors declined. (Includes data table.)
FINRA received approval from the SEC to shorten reporting requirements for most trades of MBS and ABS from within 15 minutes to within one minute of a deal having transpired.
Morgan Stanley acquired a portion of the failed Signature Bank’s multifamily loans in March. Many of the loans differ in structure from the typical loans that go into commercial MBS.
The biggest increases in home equity lending this year have been seen at nonbanks. Rocket Mortgage more than doubled its originations of closed-end second liens in the first half of 2024 from a year ago. (Includes three data charts.)
Depository institutions pulled back, to some extent, from mortgage lending in the first half of 2024 and nonbanks stepped in to fill the void. Nonbanks accounted for nearly 65% of originations in the first six months. (Includes two data charts.)
“After reviewing the comments and reconsidering the proposed rule’s substantive and procedural amendments, FHFA has determined that a number of material changes to the rule are necessary,” the agency said.
Democrats in the Senate are seeking new federal programs to address housing affordability while Republicans think existing programs can be more efficient.