Residential MBS issuance took the biggest hit from skyrocketing interest rates in 2022, but commercial MBS and ABS production were also down significantly from the previous year. (Includes three data charts.)
Read More
In late December, Ginnie seized HECM servicing from Reverse Mortgage Funding, which had recently filed for bankruptcy. Other HECM servicers are also facing liquidity pressure, according to industry analysts.
Read More
A tough beginning to 2023 for non-QM lenders and securitizers? It looks that way, but the irony is that money managers, insurance companies and others continue to have a strong appetite for yield.
Read More
With lenders pushing mortgages that include a temporary buydown feature, MBS investors are pondering prepayment behavior for the loans. Expect loans with temporary buydowns to exhibit prepayment speeds similar to ARMs, according to an industry analyst.
Read More
Fees associated with MBS trades and other services provided by the Fixed Income Clearing Corp. increased Jan. 1. The FICC said the fee hike was necessary due to lower revenues and higher expenses.
Read More
Roughly $1.3 billion in newly delinquent CMBS loans were reported in December, most of which were nonperforming balloon loans reaching maturity.
Read More
Kroll Bond Rating Agency expects single-borrower/large loan volume to decrease, while Moody’s said interest rates, lower prepayment rates, fewer property acquisitions and limited loan maturities will weigh on issuance.
Read More
Ginnie’s budget increases for FY 2023; Ginnie senior vice president found to have violated the Code of Federal Relations; Ginnie aligns eNote standards with GSEs; industry-driven FHA loss-mitigation proposals include some potential changes to Ginnie’s standards.
Read More