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Inside MBS & ABS

November 4, 2021

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Agency MBS Volume Ebbs in October Despite Refi Bump

A modest October rebound in deliveries of refinance loans into agency MBS wasn't strong enough to offset a drop in purchase-mortgage business at Fannie Mae, Freddie Mac and Ginnie Mae. (Includes two data charts.) Read More

GSE Portfolios Gear Down in 3Q21, Profits Back to Earth

Fannie and Freddie pared back their portfolio holdings designated to support future business in the third quarter. Earnings were down from an eight-year high reached in the second quarter. (Includes data chart.) Read More

Situs Adds Staff to Address Due Diligence Slowdowns

To meet the securitization needs of a robust mortgage market, SitusAMC has staffed up big time. But is it done adding heads? Read More

Prices for Non-QM Whole Loans are Robust. However…

No one’s shouting “fire” in a crowded non-QM movie house yet, but there are scattered concerns whole-loan pricing may have gotten ahead of itself. Something to keep an eye on? Read More

Ginnie Clarifies Seasoning for Refis of Modified VA Loans

Even with the clarification, some suggest VA lenders need more details to understand when they may refinance a loan included in a Ginnie-guaranteed MBS pool. Read More

Fed Finally Announces Tapering of Agency MBS

Most MBS market participants expect banks and foreign investors to pick up the slack as the Fed cuts its purchase of agency securities. Read More

Commercial MBS Tied to Offices and Some Hotels Lagging in Recovery

Overall, delinquency rates for commercial MBS have improved each month since a peak in June 2020. However, loans tied to office and hotels with an emphasis on corporate travel are slower to recover. Read More

Ginnie Creates New MBS Pool Type for 40-Year Mods

The new Ginnie Mae MBS pool type will contain loans that were modified to extend beyond the traditional 30-year terms. Read More

Grapevine: Congress Moving Toward LIBOR Fix for MBS and ABS

Congress is getting closer to passing legislation that would help legacy MBS and ABS transition away from LIBOR; there’s a securitization angle in Zillow’s move to discontinue its fix-and-flip business. Read More

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