There’s nowhere to hide for non-agency MBS issuers as quickly rising interest rates prompt losses. Loans the issuers are looking to sell have seen limited demand and lose value when retained even short-term.

Music investment company Hipgnosis Song Management is set to issue an ABS tied to royalties on 980 songs. The deal received a slightly lower rating than similar ABS from other firms.

After cutting interest rates on its products in late June, UWM expects its gain on sale to decline from 99 bps in the first half of this year to as low as 30 bps in the third quarter.

Some banks are partnering with Rocket Mortgage on originations. Rocket said banks are having a hard time competing with the nonbank.

When it comes to GOS, UWM's Mat Ishbia says he's running the table...

Despite the difficulties, AOM is increasing its warehouse financing capacity and working to acquire non-QMs with higher interest rates.

Raymond James' MGD John Toohig said he received more calls about home-equity lines of credit in July than he had in his entire career.

UWM's gain-on-sale margin totaled 99 basis points in the second quarter. Management estimates a GOS of 30 bps to 60 bps in 3Q22...

Among the top five contributors to expanded-credit MBS in 2021, only two cracked the top five in 2Q22...

The traditional leaders of contributions to expanded-credit MBS slowed their activity in the second quarter, with smaller entities filling some of the void. The types of loans going into MBS also shifted somewhat. (Includes three data charts.)