Outlook for relatively stable rates and declining implied volatilities over the intermediate term suggests a modest overweight stance in mortgages. Additionally, investor demand for high-yielding fixed-income investments with limited credit risk remains excellent, which should support mortgages. Within passthroughs, overweight current- and cusp-coupons. IO and cusp-coupon passthrough combinations offer even better projected return advantages and the potential to benefit from advantageous financing on the pass-throughs. TBAs still finance at very attractive levels.
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Note payments are linked to two tranched credit default swap (CDS) transactions, one related to the reference obligation between the issuer and SoFi Bank and SoFi Lending and the Issuer.
11h ago -
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
May 1 -
During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.
May 1 -
The fixed, tax-exempt notes have about 137.5% in expected senior bond parity and 124.1% in subordinate bond parity levels.
May 1 -
Moody's took note of several credit strengths in the portfolio, including that on a weighted average (WA) basis, the contracts have a weighted average FICO score of 767 and only a point higher for the upsized pool.
April 30 -
Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.
April 30