S&P: Secondary mortgage market running far behind 2015, drastically cuts forecast

secondaryBy 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.

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