October 29, 2026By Dennis HollierGSEs See Benefits and Some Downside From Higher RatesHigher interest rates often cut into new business at Fannie Mae and Freddie Mac, but it helps preserve ongoing guarantee fees by reducing prepayments.
October 29, 2026By Brandon IveyMBS Investors Look to Adjust With VantageScoreUsage of VantageScore 4.0 is rising among mortgage lenders, helped by LLPAs at the GSEs and low prices for the scores. However, MBS investors have some hesitation regarding how VS4 scores compare to FICO scores.
October 15, 2026By Dennis HollierEstimating the Impact of the Fed’s MBS Runoff on SpreadsBalance-sheet normalization at the Fed leads to spread widening, but with a significant lag and focused on premium coupons.