Increasingly, nonbanks are using their “owned” MSRs as collateral for repo lines. And why not? Servicing values continue to be strong, and prepayments are almost non-existent.

Spreads tightened this week for a new CRT transaction from Fannie and new non-agency MBS; prepayment rates on agency MBS exceptionally low; lessons from Silvergate Bank’s crypto activity.

Loans in the new jumbo MBS have seasoned for an average of six months...

Among nonbanks, the larger shops saw their slice of the pie grow by two percentage points.

Notable: Roughly 9.9% of all purchase loans were in the under-60% LTV range, a 289-bps increase since the first quarter.

Another way to view it: 2022 was the seventh-highest annual output ever...

Fees associated with MBS trades and other services provided by the Fixed Income Clearing Corp. increased Jan. 1. The FICC said the fee hike was necessary due to lower revenues and higher expenses.

In the fourth quarter, Ginnie was the largest issuer of agency MBS with a 38.1% share...

Not knowing whether its pooled loans are insured puts Ginnie at increased financial risk...

CMG is a privately held nonbank lender/servicer controlled by industry veteran Chris George.