The RMBS market isn’t shut after all.

When Shellpoint pulled its sophomore offering of residential mortgage backed securities from the market at the end of October, it looked like RMBS issuance might be on hold for the rest of the year. The pace of issuance had already slowed dramatically from the first half, in large part because the rapid rise in interest rates in June brought mortgage origination to a temporary halt, and it was unattractive to securitize loans with coupons that were no longer current.

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