Quicken Loans and United Shore Financial Services ranked as the top two agency MBS producers in April, dumping the market's long-time leader, Wells Fargo, into third. The megabank still ranked number one on a year-to-date basis.
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Ginnie Mae has issued its first-ever security indexed to the Secured Overnight Financing Rate, the leading candidate to replace the decades-old London Interbank Offered Rate. The agency expects more SOFR-indexed issuance in the future.
Ginnie Mae has completed liquidity talks with its 14 largest nonbank issuers, but has yet to say what transpired during the meetings. But all that could change when the agency hosts its annual summit in June.
Improvements to the traditional sequential pay structure along with better standards are providing non-QM MBS investors with better protections than deals issued in the run-up to the financial crisis, according to DBRS.
Annaly Capital Management Corp. and AGNC Investment Corp. continued their MBS-hoarding ways during the first quarter but have had to deal with paper losses and negative hedging marks thanks to lower interest rates.
Foreign investor interest in the U.S. multifamily sector has spiked in recent years, and has pushed values higher and increased liquidity. The only problem: The properties might be overvalued.
The specter of rising interest rates for commercial real estate debt subsided in the first quarter even as the credit quality of new commercial MBS remained stable, Moody's said.