Four firms are currently offering whole-business ABS. Two of the deals received ratings from both KBRA and S&P, though the rating services differed in their assessments.
Margin requirements for trading GSE MBS are on the way; the Fed will end its stimulus-related purchases of agency MBS in March; JPM readies its largest jumbo MBS since 2016.
Loan originators hurting for business as GSE refis decline should consider non-QMs, according to industry participants. Some major lenders are expecting non-agency lending to jump this year.
Ginnie servicing outstanding increased by 0.2% in 2021, led by VA mortgages. Loan performance continued to improve during the fourth quarter. (Includes four data charts.)
JPMorgan Chase was in a league of its own in the prime non-agency mortgage-backed securities market last year, with more than double the volume of its nearest competitor. (Includes three data charts.)