Select Portfolio Servicing is one of the largest non-agency MBS servicers in the nation — and it’s on the auction block once again.

Time to REIT-up for United Wholesale Mortgage? Not really, company management said recently. Just two A-paper nonbank lender/servicers — Freedom Mortgage and PennyMac — have jumped into the REIT pond, with different growth outcomes.

Beginning in June, Ginnie will allow commingling of digital and paper mortgages in its MBS.

UWM has jumped into the 100% LTV market with a two-lien loan. But what about the take-out in the secondary market? UWM is quiet.

Investors can’t seem to get enough non-agency MBS. Issuance is booming and demand is expected to remain elevated thanks to the outlook for interest rates, among other factors.

MBS trading has improved as investors and traders weigh the landscape. One positive: a benign inflation reading this week. But is this a head fake before worse news appears?

Computershare recently started offering trustee services for MBS. Western Alliance was named as a trustee for a CLO deal.

The flow of refinance loans into the Ginnie MBS program dropped 9.2% in April. Still, year-to-date refi volume in the government-insured market was up a solid 54.4%. (Includes two data tables.)

Non-agency MBS issuance more than doubled on a sequential basis in the first quarter of 2024, with jumbo mortgages making up the majority of loans in the deals. (Includes three data tables.)

“This is the most attractive time to be acquiring residential loans since I started in the market in 1991,” said Carl Bell, a senior managing director at Invictus Capital Partners.