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The Ginnie Mae Issuer and MBS Disclosures
Ginnie Mae (GNMA) does not report seller or servicer information for its pools or loans; instead, associated with each GNMA pool/loan is...
Sharad Chaudhary
Jan 227 min read
176 views
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Tracking Daily Agency MBS Issuance
Tracking MBS Issuance over extended time frames spanning months or years provides an invaluable perspective into mortgage market...
Sharad Chaudhary
Oct 25, 20243 min read
51 views
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Forecasting MBS Prepayments Using Daily Prepayment Data from the GSEs
Introduction Payoff data on MBS cohorts that is accumulated for each day of the servicer reporting cycle associated with a factor date...
Sharad Chaudhary
Oct 14, 20247 min read
284 views
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Mortgage Rate and Incentive Calculations in StoryBook
Conforming Mortgage Rates in StoryBook The mortgage rates used in StoryBook are based on the most reliable and long-running survey of...
Sharad Chaudhary
Mar 12, 20245 min read
156 views
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Ginnie Mae Loan-level Data on BD4
Introduction In addition to providing pool-level A factors on GNMA MBS pools on the 4th business day (BD4) of each month, StoryBook also...
Sharad Chaudhary
Feb 14, 20243 min read
145 views
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Extended-Term (ET) Loans in GNMA Pools
Background An ET loan corresponds to a loan modification that lowers a borrower's monthly payments by restructuring an existing 30-year...
Sharad Chaudhary
Jan 30, 20243 min read
80 views
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LLPA Changes and Mortgage Rates
LLPA Changes and Mortgage Rates On January 5th, 2022, the GSEs released a new round of loan-level pricing adjustments (LLPAs) targeted at...
Sharad Chaudhary
Jun 17, 20223 min read
269 views
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Mortgage Float
Introduction One way of assessing the liquidity for a particular MBS coupon is to calculate its float, the amount that is free to trade....
Sharad Chaudhary
Oct 23, 20206 min read
782 views
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Non-banks in the Mortgage Market
Introduction It's hardly an overstatement to say that the institutional type of mortgage originators and servicers is playing a crucial...
Sharad Chaudhary
Sep 14, 20205 min read
188 views
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A Close Look at the GSE Cash Window
Introduction to the Cash Window There are two methods for securitizing loans in Agency GSE MBS: swapping loans for a security (Swap) or...
Sharad Chaudhary
Aug 21, 20203 min read
5,093 views
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Mortgage Delinquency and Forbearance, Part II
As widely anticipated, the delinquency rate on mortgage loans jumped dramatically in May factor date data across the different Agencies...
Sharad Chaudhary
May 21, 20205 min read
79 views
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Mortgage Delinquency, Forbearance and COVID-19
Introduction The economic destruction unleashed by the COVID-19 pandemic has lead to a surge in the unemployment rate which in turn will...
Sharad Chaudhary
Apr 14, 20205 min read
74 views
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A Close Look at Appraisal Waivers
Property Valuation Data from the GSEs Among the relief measures rolled out by housing regulators in responding to the coronavirus...
Sharad Chaudhary
Mar 28, 20203 min read
79 views
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An Introduction to MachineSP
The Problem The US has one of the largest and most developed mortgage markets in the world with nearly two-thirds of all households...
Sharad Chaudhary
Mar 20, 20203 min read
265 views
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