The earlier-than-expected end of the COVID national emergency has brought additional regulatory pressure on mortgage servicers.

Rising interest rates limit demand for mortgages; home prices increase; few borrowers remain in forbearance; foreclosure activity up slightly.

Western Alliance Bank's profits declined in the first quarter after asset sales similar to those that brought down Silicon Valley Bank.

Mortgage demand declines as interest rates increase...

Kroll Bond Rating Agency doesn't expect to take actions on outstanding non-agency MBS and CRT issuance tied to failed banks or regional banks experiencing volatility.

Home prices increased by 1.0% on a sequential basis in the first quarter of 2023.

Volatility stemming from bank failures in March put a damper on non-agency MBS issuance. A jumbo deal was pulled and expanded-credit activity slowed.

Invictus Capital Partners was the top-ranked non-agency MBS issuer in the first quarter.

2022 marked the first year that net production was negative for the full year since the MBA started its performance survey in 2008.

Relatively low interest rates don't help much if there aren't many homes for sale.