For the first time in a long while, Fannie in August finished third in issuance of single-family MBS. Agency purchase volume rose slightly as refinance activity continued to slump. (Includes two data charts.)
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Investors that once focused on lower tranches of non-agency MBS are shifting up in credit, seeing just as strong returns from AAA-rated tranches with fewer risks. Investors in agency MBS are also changing strategies as interest rates rise.
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When it comes to the non-QM market, PIMCO likes to keep a low profile. This summer, it appeared the firm was sitting on the sidelines as a buyer. And now? Looks like the wallet is out again.
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In 2020, the SEC made a move to apply a disclosure rule that had been in effect for nearly 30 years to MBS and ABS. Industry participants have been able to delay enforcement of the rule while seeking changes to the disclosure requirements.
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MBA urges FHFA to consider securitization when reviewing the Federal Home Loan Bank system; Ambac’s MBS lawsuit against Countrywide goes to trial 12 years later; MISMO seeks comments on template for BWIC activity.
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