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.
Securitization rates increased for GSE-eligible loans, government-insured mortgages and non-agency mortgages. While bank demand for jumbos is declining, the vast majority of the loans don’t go into MBS. (Includes data table.)
Ginnie remained the fastest growing player in the MBS market in the third quarter. Mutual funds, money-market funds and insurance companies continue to play important roles in demand for single-family MBS. (Includes two data tables.)
Massive portfolio restructuring at the Federal Reserve led to a huge increase in production of Fannie and Freddie Supers MBS in the third quarter. Activity looks to be returning to normal. (Includes two data tables.)
Ginnie Mae continued to flex its muscles in the agency single-family MBS market, while non-agency issuance posted a strong third quarter. (Includes three data charts.)
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