Commercial banks posted a surprising increase in MBS holdings during the fourth quarter, while foreign investors, money managers, life insurers and credit unions also grew their portfolios. (Includes three data tables.)
Rate-term refinances still account for a relatively small share of total agency MBS production, but volume jumped 22% from December to January. Many top sellers shifted more of their business to Fannie. (Includes two data tables.)
Annaly Capital Management is preparing to issue a rare non-agency MBS stocked solely with bank-originated adjustable-rate mortgages. Loans in the MBS were originated by Associated Bank.
Bank of America issued a resecuritization this week tied to a 2017 multifamily K-deal. It’s the first rated issuance of its kind from BofA since 2016. The new resecuritization received an A- rating.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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