Securitization of retail-property loans and hotel mortgages saw volume gains in the fourth quarter, but non-agency CMBS issuance was down 46.3% in 2023. Agency multifamily MBS held up slightly better, recording a 38.0% decline from 2022. (Includes two data tables.) Read More

What goes down must go up again? That seems to be the story of the fourth quarter’s revival in agency MBS values. Declining mortgage rates gave agency securities holders a shot in the arm. Read More

Despite an uptick in GSE CRT issuance in the fourth quarter, 2023 volume remained well below the level seen in 2022. (Includes data table.) Read More

New metrics are required to quantify the risk of climate change and rising hazard insurance costs on collateral in MBS. Read More

The Fed launched the Bank Term Funding Program amid the regional bank crisis in 2023 to help avoid fire sales of MBS and other assets. The program is set to end in March as scheduled. Read More

A New York Federal Reserve study found that the secondary market loan sales could help boost capital at CDFI-approved lenders. Read More

Panel discussions at the summit covered Ginnie’s digital collateral, social impact investing and manufactured housing, among other topics. Read More

Fed stays course on MBS sales; SFA close to revising data tape for prime non-agency MBS; MBS on watch for rating upgrades by Fitch; subprime auto ABS impairments rise; commercial MBS delinquencies decline; Fannie sees tighter spreads for latest CRT; Morningstar not ready to give positive commercial MBS credit for “mass timber” construction. Read More