The Federal Housing Finance Agency issued a proposal Wednesday that would require mortgage giants Fannie Mae and Freddie Mac to align their policies on cash flows for current mortgage-backed securities, and eventually for a uniform security when it is implemented next year.

The $591 million transaction is backed by fewer investment grade obligors than the sponsor's previous deal, and Fitch thinks the overall decrease in credit quality is material.

The credit quality of obligors is up from that of the sponsor's 2017 transaction, which could help offset a decline in performance seen in recent vintages.

J.P. Morgan Asset Management is not disclosing why it is retiring the $1B Palm Lane Credit Opportunities Fund; the fund was previously being considered for a spinoff.

Housing finance reform is still likely years away, but a growing chorus of lawmakers say the government guarantor has the ability to clear the path to a final plan.

Fund manager Varde Partners wants to grow its partnerships with lenders and servicers interested in selling off their excess mortgage servicing rights.

The deal, which comes just a year after the commodity trading firm's last securitization, represents 7.85% of assets in a revolving trust; it may be upsized to $500 million.

The nation's fifth-largest bank on Monday rolled out a three-month consumer loan that is far less expensive than the typical payday loan. The move comes as regulators are encouraging banks to reach out to the subprime market, which they largely abandoned.

The $300 million transaction has a six-month prefunding period during with the last $50 million of loans will be acquired; it can be actively managed for three years.

Caliber Home Loans’ next offering of subprime mortgage bonds includes a new product offered to borrowers with a stronger credit profile than its other programs – but also less equity in their homes.

Nearly a third of borrowers, 29.5%, backing the $500 million transaction are making timely payments, up from 27.4% for the prior deal and higher than the lender’s previous two deals.

TCI Capital assigned two CLO deals totaling $1 billion that it was managing for Columbia Management Investment Advisers, after Columbia resigned its subadvisory role.