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  "domain": "structured-finance",
  "title": "JHF MBS vs private RMBS spread",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "JHF MBS vs private RMBS spread",
    "aliases": [
      "JHF MBS spread",
      "Private RMBS spread Japan",
      "Japan MBS spread comparison",
      "JHF vs private spread",
      "JGB MBS spread",
      "Japan RMBS pricing"
    ],
    "domain": "structured-finance",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "structured-finance",
      "mbs",
      "rmbs",
      "spread",
      "jhf",
      "japan",
      "pricing"
    ],
    "status": "active",
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    "sources": [
      "https://www.jhf.go.jp/files/topics/5014_ext_99_1.pdf",
      "https://www.jhf.go.jp/english/mbs_faq.html",
      "https://www.jsda.or.jp/en/statistics/securitization-market/"
    ]
  },
  "summary": "There is no timeless 10–30bp JHF MBS band or 50–100bp private-RMBS band. JHF publishes dated launch spreads for each series; its April 17, 2026 issuance history reports 51–55bp for series 221–227. Private RMBS pricing must be taken from a named transaction and date because public and private placeme",
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    "JHF MBS vs private RMBS spread",
    "TL;DR",
    "Wiki route",
    "1. Spread benchmarks",
    "2. Drivers of the spread gap",
    "3. Credit and structure are not a fixed spread decomposition",
    "4. Prepayment behavior difference",
    "5. Institutional investor preference",
    "6. Curve dynamics",
    "7. Implications for structuring decisions"
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