Non-QM goes mainstream as issuance hits new highs
Hot securitization sectors such as non-qualified mortgages and home equity are set to expand further amid market shifts this year, recent forecasts suggest.
Capital markets
Goldman Sachs names BlackRock’s Lynam as chief credit strategist
Goldman's former chief credit strategist Lotfi Karoui departed last year after 18 years with the bank. He was also the head of credit, mortgages and structured products research.
BlackRock total assets hit record $14 trillion as ETFs surge
The asset manager is in the midst of transforming itself from a dominant player in stocks, bonds and public markets, into one of the largest firms in private credit and infrastructure markets.
Banks snatch up MBS that notched best returns since 2002
Late last year, commercial bank holdings of mortgage paper reached the highest level since 2023 as these depositories are flush with deposits.
Mortgage spreads are narrowing, but for which reason?
Keefe, Bruyette & Woods attributes Fannie Mae and Freddie Mac portfolio growth for the narrower spreads, but other reasons include lower volatility.
Fannie Mae ups mortgage originations outlook
Fannie Mae sees growth in refinance activity pushing volumes upward, but flattening purchases will temper lender momentum, according to its December report.
Private-label RMBS set for biggest year since crisis
A rise in issuance of nonqualified mortgages and seconds is in the forecast but home prices, credit and the GSEs may impact private-label bonds' trajectory.
Freddie Mac ending exchange offer used to create UMBS
The option for holders of older government-sponsored enterprise bonds that predated the move to uniform mortgage-backed securities now has a deadline.
Freddie Mac appoints Kenny Smith as latest CEO
Michael Hutchins, the two-time interim chief executive at the government-sponsored enterprise, will remain with the company in his role as president.
Lower rates drive best November lock activity in years
November rate locks fell seasonally but hit their strongest level since 2021, led by refis, while lenders shifted more loans to the GSE cash window.
Jefferies expands credit reach with Hildene stake
Hildene, which partners with Crosscountry Mortgage for non-QM securitizations, is doing this deal as part of its buy of an annuity provider, SILAC.
Warren warns CFPB on its ‘half-baked idea’ for mortgage-rate data
At issue is the CFPB's weekly publication of Average Prime Offer Rate tables, a key benchmark enabling the smooth operation of the $13 trillion residential mortgage market.
How GSE changes in LLPAs, MBS could shift rates
Decision makers have voiced support for lower financing costs but researchers have said achieving it could be complicated. Part 3 in a series.
GSE credit reform: Rent data impact on pricing and LLPAs
What developments around rent reporting and new credit standards portend for mortgage companies. Part 2 of a series on government-sponsored enterprise changes.
Non QM securitization broke records in 3Q: Morningstar
New private-label bonds collateralized by loans made outside the qualified mortgage definition hit highs for the month, quarter and year, CreditFlow data shows.
What Bill Ackman thinks should happen to the GSEs
The billionaire and legacy government-sponsored enterprise investor says there is a quick interim fix and they should eventually leave conservatorship.
SFA hopes to bring back public RMBS from private issuers
The Structured Finance Association is adding its weight to recent support for a Securities and Exchange Commission action that could modernize Reg AB II.
How Basel, GSE changes may upend MSR dynamics
Policy reviews of GSEs and Basel rules could reshape the MSR market, opening opportunities for banks and altering Fannie, Freddie MBS dynamics.
Fannie, Freddie eyeing assumable or portable loans: Pulte
Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
Trump, Pulte float 50-year mortgage use in U.S.
President Trump and housing regulator Bill Pulte are considering introducing a 50-year fixed rate mortgage that Fannie Mae and Freddie Mac would purchase.
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