The volume of loans removed from Ginnie MBS increased by nearly 20% in the second quarter, driven by borrower loan payoffs. (Includes two data tables.)
Two large REIT investors in agency MBS incurred losses in the second quarter, due to interest rate volatility and an unaccommodating monetary policy stance. Still, they are optimistic about the future.
Fitch Ratings sees relatively smooth sailing for residential MBS this year while times are tough in the CMBS market, and the worst could be yet to come.
Cherry Hill plans to drop its external manager, consider additional strategic options; FHFA publishes historical VantageScore data; Computershare, NewRez receive master servicer ratings; commercial MBS from Morgan Stanley downgraded.
When interest rates decline, the prepayment environment for agency MBS is likely to be much different compared with previous refinance booms, according to industry participants.
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