Spreads on GSE CRT issuance are close to all-time tights, with strong demand from money managers, hedge funds and insurance companies. (Includes data table.)
Loan removals from Ginnie pools was led by borrower payoffs, which accounted for 89.1% of total liquidations in the third quarter. (Includes two data tables.)
Ginnie could face a leadership gap if Acting President Sam Valverde is asked to leave before a permanent president is in place. The agency is currently without a chief operating officer as well.
October was the busiest month of the year for non-agency MBS issuance. Activity has been limited thus far in November, though there are plenty of deals in the pipeline.
Slow runoff speeds mean that low-coupon MBS make up a growing share of the Fed’s balance sheet. Does that mean the Fed will begin selling MBS outright?
MBS trading volume had its best month of the year in October. Might higher tariffs promised by a new White House force rates higher, damaging the mortgage market?
Cherry Hill Mortgage Investment continues to work toward an internal management structure, which would require a break from management affiliated with Stanley Middleman, CEO of Freedom Mortgage.
Rate-term refinances fueled most of the increase in agency single-family MBS issuance last month, but the wave may already be running out of propulsion. (Includes two data tables.)
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