For the first time ever, nonbank lenders held the top seven rankings among agency seller-issuers in April. Their aggregate clout equaled over 40% of the market. (Includes two data charts.)
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Banks have gone from being reliable buyers of agency MBS to cautious holders of the securities, prompting wider spreads and opportunities for nonbank investors.
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At one point, First Republic Bank was a major contributor to non-agency MBS. In recent years, the bank retained its production, though JPMorgan Chase could move to sell the loans.
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What might the thirst be for a roughly $37 billion package of mortgage servicing rights tied to non-agency loans? Deal broker MIAC Analytics is about to find out. A handful of MBS-investing REITs have been identified as possible bidders.
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In no month since quantitative tightening began last June has the FOMC approached the $35 billion monthly cap on its planned MBS reduction. The latest action by the Fed won’t change that.
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During a recent webinar, Casey Zuzak, a senior risk analyst at FEMA, discussed the potential uses of the agency’s National Risk Index on natural hazards within the residential MBS sector.
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New disclosure portal for Freddie MBS investors; Ginnie details LIBOR transition plan for multifamily MBS; Andrew Davidson offers prepayment analysis for specified pools; DBRS proposes revisions to rep and warrant criteria.
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