This week, Annaly, the Change Company, Credit Suisse and Lone Star Funds all offered their second individual expanded-credit MBS of the year. Activity is also humming along in the prime non-agency market.
Fitch’s review of 225 non-agency MBS prompts downgrade of a single tranche; Unison issues securitization with residential equity agreements; Carrington offers to complete certain non-QM origination tasks for brokers.
Ginnie Mae has added a “green status” field to its multifamily MBS disclosures, its first environmental, social and governance disclosure in the multifamily space.
Annaly Capital Management’s net income declined by nearly 20% from the third to the fourth quarter and AGNC Investment took a loss as agency MBS values fluctuated due to actions by the Federal Reserve.
Borrowers with loans in various types of MBS and ABS could be stretched as interest rates increase, according to industry analysts. Prepayment rates are also likely to slow.
Angel Oak issues MBS largely stocked with its own production whereas AmWest started shelfing its own deals in September after years of contributing to MBS issued by others. (Includes three data charts.)
Angel Oak is sourcing loans from lenders beyond its affiliates, Invictus reached a diversification milestone and Angelo Gordon went the other way, sponsoring a deal with loans from just one lender.