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The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between August 13 and August 19, the Federal Reserve purchased a gross total of $26.640 billion agency MBS. After subtracting sales (providing liquidity/the roll) the Fed's...
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Curt, As I mentioned in another thread, the interest rate on the underlying loans in a MBS is typically around 0.5% higher than the pass-through coupon rate. This 1/2% difference is the servicing and guaranty premium. The guaranty premium charged by Ginnie Mae on a Ginnie I pool is .06% leaving the lender...