Mutual funds, foreign investors and insurance companies boosted their MBS holdings during the fourth quarter as banks and the Federal Reserve pulled back. (Includes three data charts.)
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On any given day, a buyer can be found for two of the most liquid assets out there: Treasuries and MBS. But that doesn’t mean they can be sold at a profit. If anything, the bank liquidity crisis reminded us: Don’t put all your assets in one held-to-maturity basket. (Includes data chart.)
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The Bank Term Funding Program comes in the wake of Silicon Valley Bank incurring losses on sales of MBS at current prices, which it undertook to pay back depositors.
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Second-level GSE MBS issuance involving excess spread from servicing increased in 2022. Private-equity firms and real estate investment trusts are among the investors buying excess servicing.
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In a book released this week, former FHFA Director Mark Calabria provides insight into some of the key policy decisions during his abbreviated tenure.
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About half of recent loan curtailments have been followed by recasts. For investors in smaller MBS pools, that could be mean a higher weighted average maturity than expected, RiskSpan said in a recent analysis.
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CRT transactions from Western Alliance Bank and Pacific Western Bank face scrutiny amid bank failures; impairments on unsecured consumer loans in ABS decline; Credit Suisse and what’s to come.
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