By Ben Lane | HousingWire
If the first quarter of 2016 is a harbinger of what’s to come for the rest of the year, the secondary mortgage market will have a far weaker year than expected, according to a new report from Standard & Poor’s Ratings Services.
The S&P report shows approximately $7 billion in residential mortgage-backed securities activity (which includes prime jumbo, re-performing/nonperforming, credit risk transfer, single-family rental, and servicer advances) in the first quarter of 2016.
That’s down more than 50% from the first quarter of 2015, when there was $15 billion in RMBS-related deal activity.