Issuance of non-agency MBS rose strongly in the first quarter, with hefty gains in prime, ECM and NPL/RPL production. While the market was well ahead of its year-ago pace, there’s still some catching up to do with 2021 and 2022. (Includes three data tables.)
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Ginnie cautioned issuers that it monitors their portfolios to ensure they are meeting acceptable risk parameters, including those related to prepayment activity.
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Better keeps losing a ton of money but continues selling millions of dollars in loans to Fannie Mae. The secret is in cash left in the cupboard.
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Newly-released minutes from the Fed’s meeting in March indicate that the Fed is ready to slow the pace of Treasury runoff while maintaining the already slow pace of MBS runoff.
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A district court judge threw out parts of a lawsuit against Ginnie Mae for canceling Texas Capital Bank’s first-priority lien on a loan portfolio of Reverse Mortgage Funding but allowed a key challenge to go ahead.
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The top three originators of mortgages backing expanded-credit MBS are Acra Lending, Angel Oak and A&D Mortgage.
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