The past week’s conventional market share shows large drops in volume and a precipitous drop in market share for Wells (almost 18%) and surges for others. Texas Capital saw a significant increase in conventional investor market share this week, landing in the 4th position; even though Texas Capital was not in the top 10 investors…
Penny Mac maintained its position at the top even though there was a scramble across the remaining top 10. Wells made a big move into the number two spot while Freedom and Mr. Cooper held their positions in the top four. We welcome ideas that can improve this content – feel free to provide your…
Another strong showing for Wells, raking in over 50% of last week's conventional volume, though off slightly versus prior week. Suntrust showed impressive pickup with Bayview and Colonial cracking the top 10 last week, as well. We welcome ideas that can improve this content – feel free to provide your suggestions by commenting on this…
Demand for the call protection coming from specified stories has increased considerably as we’ve had a sustained rally and the UMBS took center stage, worsening TBA pricing relative to Specifieds. As we’ve rallied, the demand for call protection has increased down the coupon stack as significant refi incentive is beginning to show up in 3.5…
The specified pool market (“Specifieds”) offers execution benefits for all mortgage sellers, whether you directly securitize, sell to the agency cash windows or to aggregators via mini-bulk. Specifieds offer pay-ups based on loan characteristics that result in slower prepayment than similar TBA trades that lack those characteristics. Origination margins have continued to compress due to…