SFA restarted its RMBS Symposium event this week, with an agenda driven by issues under consideration at committees and task forces within the association.
Portfolio restructuring by the Federal Reserve accounted for about a third of new Fannie and Freddie Supers issuance in the second quarter, but volume is slowing down. (Includes two data tables.)
The non-agency market could gain from a reduction in GSE loan limits, revision in capital requirements for banks and updated requirements for publicly registered securitizations.
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.
If Freddie Mac is allowed to purchase second mortgages, critics argue there should be clearly articulated capital requirements, loan-to-value ratio limits and debt-to-income ratio restrictions.
The decline was driven by conventional-conforming mortgages and government-insured mortgages. The securitization rate for non-agency mortgages actually jumped in the first quarter. (Includes data table.)