Removals from Ginnie MBS were few and far between in the first quarter of 2023 as elevated interest rates limited loan payoffs and other withdrawal activity. (Includes data chart.)

Industry stakeholders believe Farmer Mac could face risks arising from climate change. However, the government-chartered company took issue with a proposal to amend and strengthen its capital framework.

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.

Sure, big banks have sizeable unrealized losses from MBS classified as held-to-maturity. But as long as the banks don’t sell the MBS, the losses remain unrealized.

The hedge advisor’s automation of the assignment-of-trade process allows lenders to save on bid-ask spreads and increases efficiencies for correspondent investors.

Ginnie officials meet with government and private finance entities in Taiwan and South Korea; Chase hopes to use securitization to reduce capital requirements; Fitch downgrades PacWest’s credit-risk transfer deal; KBRA gives all clear on bank exposure in non-agency MBS.

Fannie and Freddie captured a smaller share of the conventional-conforming market last year, and non-agency issuance dropped sharply in the second half. (Includes data chart.)

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

Despite privacy issues, industry stakeholders said Fannie’s and Freddie’s social bond disclosures should provide more granular data.

There were two bright spots in the first quarter: Non-agency MBS issuance rebounded strongly and ABS production saw a solid gain. But agency single-family tanked again, as did CMBS. (Includes three data charts.)