Noting strong demand for non-agency MBS, issuers are getting creative with the types of loans they package into deals. JPMorgan, Credit Suisse, Angelo Gordon and Goldman Sachs are all entering new sectors.
Will the FHFA trim cash-out refis by Fannie Mae and Freddie Mac? For now, all is quiet on the topic. In other news: HUD ushered in new regulatory changes for FHA condo financing, making it easier for borrowers and lenders.
First Republic Bank is the top contributor to the MBS, with a 27.1% deal share. Other lenders with mortgages in the MBS include Banc of California, loanDepot and Nationwide Bank. The loans have seasoned for an average of 18.7 months.