Secondary market investors, especially hedge funds and private equity firms, are bidding up the price of non-qualified mortgages. That’s good news for sellers, but can it last?

Six non-agency MBS backed by newly-originated mortgages have been introduced since the beginning of the year. Issuance is ramping up after a slow December.

The move gives the regulator more direct control over Common Securitization Solutions, which is responsible for issuing and administering the uniform MBS.