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Inside MBS & ABS

July 20, 2018

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Non-Agency MBS Issuance Up Smartly in 2Q18 as Deals Backed by New Loans Hit Post-Crisis High

The non-agency MBS market had arguably its best quarter since the financial crisis during the April-May production cycle, generating $20.72 billion of new securities, according to a new analysis and ranking by Inside MBS & ABS. [Includes three data charts.] Read More

Investor Demand for Mortgages is Strong in the Secondary Market, Non-QMs an Area of Focus

Mortgage originations have been trending lower but there’s still plenty of demand in the secondary market for new production, according to industry participants. There’s demand from both MBS investors and aggregators that package mortgages for securitization. Read More

GSEs Using Data, Analytics to Help Improve Efficiency For Lenders and Boost Volume as Production Declines

As refinance business declines, the government-sponsored enterprises are stepping up efforts to help lenders produce more volume in other areas. At the California Mortgage Bankers Association’s secondary market conference this week in San Francisco, officials from Fannie Mae and Freddie Mac touted various efforts to help lenders and ultimately prop up GSE MBS issuance. Read More

Concerns Resurface About Boundaries of Secondary Market Activity as New Era in Supervision Looms

As the term of Federal Housing Finance Agency Mel Watt winds down, the mortgage industry is getting more vocal about perceived shortcomings in the oversight of the government-sponsored enterprises, including the blurring of lines between the primary and secondary markets. Read More

Fifth Circuit Court Rules FHFA Single-Director Structure Violates Constitution but Treasury Sweep Was Legal

The Federal Housing Finance Agency’s structure was deemed unconstitutional this week by the U.S. Court of Appeals for the Fifth Circuit. And in another rejection for Fannie Mae and Freddie Mac shareholders, the court ruled the Treasury net worth sweep was within the agency’s power. Read More

Tougher VA Refi Requirements Narrow Prepayment Speed Gap between VA, FHA; Convergence Expected

Prepayment speeds for VA and FHA loans are expected to converge due to changes in the refinance requirements for VA home loans, according to Wells Fargo Securities analysts. Read More

Fintech Innovations Look to Expand Credit Access to the Unbanked and Underbanked Consumer

Data-based technological innovations are creating more opportunities for lenders to assess the risks posed by consumers who have traditionally been denied access to credit. While the conversation on exploring alternative data has been ongoing for the past few years, the industry now appears to be taking steps toward making this a reality. Read More

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