While key sectors in the non-agency CMBS market faltered in the second quarter, retail and hospitality both saw hefty gains in securitization volume. The GSEs upped their issuance of multifamily MBS, but Ginnie production was down. (Includes two data charts.) Read More

There’s nowhere to hide for non-agency MBS issuers as quickly rising interest rates prompt losses. Loans the issuers are looking to sell have seen limited demand and lose value when retained even short-term. Read More

Fannie and Freddie issued a combined $17.57 billion in CAS and STACR certificates in the first half of 2022, more than in any full year since CRT was invented. (Includes data chart.) Read More

While credit unions will be treated on par with banks, state housing finance agencies will be fully exempted from capital requirements imposed on those participating in the Ginnie MBS program. Read More

Changes to Form FR-2004 help distinguish between the specified pool and to-be-announced positions of primary dealers. Read More

Interest rates have fallen recently but are now going the other way. As for MBS trading and creation, it’s not a pretty picture these days. Read More

Financial issues at Bed Bath & Beyond and Tuesday Morning could lead to performance problems in commercial MBS. Read More

Music investment company Hipgnosis Song Management is set to issue an ABS tied to royalties on 980 songs. The deal received a slightly lower rating than similar ABS from other firms. Read More