Big gains in prime and expanded-credit MBS issuance are driving the market, although production of scratch-and-dent deals fell sharply in the first quarter.
After years of acquiring mortgages as whole loans, PIMCO and MetLife are set to issue separate non-agency MBS stocked with seasoned mortgages. An affiliate of PIMCO plans a $382.56 million issuance while MetLife's deal could be double that size.
In a positive sign for the non-agency MBS market, JPMorgan Chase is set to issue a $440.54 million MBS stocked with non-qualified mortgages for primary residences. It will be the the first big bank to do so.
Speculation continues to mount regarding whether Fannie Mae and Freddie Mac will be allowed to retain more capital. But will such a move be a precursor to a "recap and release" plan?
The average daily trading volume in agency MBS shot up like a rocket to $269.7 billion in March, one of the best readings in quite some time. But what does it indicate?
A recent court ruling in the case of Powell v. Ocwen Financial could significantly expand liability for non-agency MBS participants by subjecting MBS transactions to the Employee Retirement Income Security Act.
The Securities and Exchange Commission is increasing its srcutiny of sale of mortgage interests between investment vehicles managed by the same advisor, even if the parties involved are private entities.