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Inside MBS & ABS

May 6, 2021

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Agency Market Blooms in April with New Monthly Record

Freddie Mac accounted for most of the monthly gain in single-family agency MBS issuance, which rose to $372.9 billion in April, a new all-time high for the market. (Includes two data charts.) Read More

New GSE Purchase Limits and the Non-Agency Market

Non-agency outlets are seeing a surge in the supply of non-owner-occupied loans due to caps recently placed on GSE business. Non-agency MBS issuance is expected to increase, though pricing for jumbos is also declining. Read More

PennyMac Taps Structured Finance Vehicle to Lever MSRs

Notes backed by MSRs could become plentiful if a strategy employed by PennyMac Financial and its sister company catches fire. Read More

GSE Earnings Up in 1Q21, Retained Portfolios Decline

The GSEs reported a modest decline in net interest income, which includes earnings from MBS guarantee fees. The surge in g-fee income from the adverse market fee implemented in December will be spread over the expected life of the loans. (Includes data chart.) Read More

The Fire Still Burns Bright on GNMA EBOs

The Ginnie early buyout game is still afoot with whole-loan auctions fanning the flames. But how much longer can the gravy train last? Read More

Performance of Auto ABS Continues to Improve

The extension rate on loans in auto ABS declined again in February. Still, extensions are elevated compared with a year ago, just before the pandemic hit the economy. Read More

Tremont to Merge with RMR Mortgage

The combined entity will be a more diversified commercial mortgage real estate investment trust, with assets expected to reach $1 billion when fully invested. Read More

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Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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