AGNC CEO is comfortable with FDIC’s plans for sales of MBS held by failed banks; Morgan Stanley revives jumbo MBS; UBS prepares for legacy residential MBS action by DOJ; Chase offers RPLs in non-agency MBS.

Principal Executive Vice President Sam Valverde and Capital Markets Director Richard Perrelli recently discussed ongoing environmental, social and governance efforts for Ginnie’s MBS program.

Volatility stemming from bank failures in March put a damper on non-agency MBS issuance. A jumbo deal was pulled and expanded-credit activity slowed.

FRBNY plans to consolidate SOMA’s agency MBS holdings. However, the dollar value and composition of those holdings will not change.

The supply of Fannie Mae single-family servicing declined by 0.2% in the first quarter.

Secondary market analysts speaking on a dv01 panel said that as unemployment increases, borrowers with lower credit scores will see drops in performance. In auto, inflation has reduced access to credit for lower-income borrowers.

Issuance of Ginnie Mae MBS declined for the eighth straight quarter during the first three months of 2023. The deterioration was relatively uniform between FHA and VA volume. (Includes four data charts.)

Issuance doubled compared with the fourth quarter of 2022. However, issuance slowed considerably in March following the failures of two regional banks. (Includes data chart.)

The SEC’s proposed rule on conflicts of interest in the securitization market is unworkable and unnecessarily broad, according to industry stakeholders.

A large chunk of the loans were funded by Kiavi Funding and Lendmarq...