Attractive spreads are drawing investor interest to the CLO market, where strong BSL securitization drove surging issuance. (Includes two data charts.)

PennyMac and a handful of other lenders appeared to benefit from the retreat of Wells Fargo from the correspondent market. (Includes two data charts.)

Loans with MI represented 63.8% of total mortgage-backed securities issued by Fannie, Freddie and Ginnie in the first quarter.

A larger portion of GSE-eligible mortgages didn't make it into MBS in 2022.

The two biggest components in the ABS market — vehicle and business finance securitization — recorded significant gains from the fourth quarter. Overall issuance was boosted by utilities deals. (Includes two data charts.)

Volume was down across the board for insured mortgages, but PMIs saw a modest gain in market share in first-quarter agency MBS issuance. (Includes three data charts.)

Most of the prime MBS were garden-variety jumbo deals.

Issuance of all the major RMBS products rose significantly in the first quarter of 2023, although average seasoning in the deals was higher. Subordination levels in ECM deals rose as investor demand weakened and collateral trended riskier. (Includes three data charts.)

Fannie and Freddie captured a smaller share of the conventional-conforming market last year, and non-agency issuance dropped sharply in the second half. (Includes data chart.)

Prepayment speeds are at historic lows, but Fannie reported a net decline in single-family MBS outstanding during the first quarter, and Freddie was up just 0.1%. (Includes two data charts.)