Demand for non-agency MBS can be measured by how new issuance prices compare to a benchmark rate.

With interest rates on the rise, refinance volume is expected to drop in 2022. Purchase-mortgage lending could hit a record level, but it won’t fully offset the loss in refis, putting pressure on margins.

Fitch revised its outlook for Provident Funding Associates to negative due to competition in the wholesale channel but upgraded its rating of UMM’s unsecured debt. MISMO is seeking comments on tech that would help obtain MI quotes.

Moody’s is considering increasing credit enhancement requirements and capping ratings for mortgage warehouse lending securitizations that allow for “wet” loans.

Spreads on jumbo MBS widened in recent months as the supply of prime non-agency MBS surged. Redwood Trust opted for more whole-loan sales during the third quarter while JPMorgan Chase remained an active MBS issuer.

Redwood's margin on residential mortgage banking activities in the third quarter of 2021 was 122 basis points, up from 98 bps...

If capital and liquidity requirements for nonbank servicers are too stringent, firms could leave the business and borrowers’ costs for mortgages could increase.

The NYCB acquisition of Flagstar won't close until next year...

In 2Q21, the GSE-eligible share of loans going into non-agency MBS was 28%.

Generally, the obligation related to the HEI will decline at a rate similar to the home depreciation.