Capital markets

The retained portfolios' latest record monthly number puts Fannie Mae in front while Freddie Mac has held onto a lead in quarterly single-family loan purchases.

A report from the Financial Stability Board said limited transparency in the private credit market makes it difficult for regulators to monitor and understand risks, potentially masking challenges to the financial system.

Certain private-label securities may get a lower risk weighting for bank capital and separately, second liens have new uniform guidelines for TRID.

Lenders at the MBA conference say non-agency is more than just non-QM — and those still treating it as a niche product are falling behind as it becomes a core part of the business.

Department of Housing and Urban Development officials indicated that there are improvements in some delinquency stages and cure rates are better than expected.

Secondary market experts are split on whether the Fed's next move will be a rate decrease in 2027 or an increase, as more observers are now thinking.

Standard & Poor's found modeled foreclosure frequency and loss coverage to be in similar ranges as classic FICO but showed concern about potential bias.

Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases.

The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.

Economic uncertainty weighed on risk appetite, but the current performance of the non-QM market is "durable," Angel Oak leaders said in an earnings call.

The government-sponsored enterprise recorded $98.7 billion in single-family loan acquisitions to begin the year, including over $43 billion in refinances.

Large loan balances are increasingly common in non-QM and HELOC securitizations, bringing faster prepayments and higher delinquency risks, Bank of America Securities research shows.

It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices Group say.

A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.

The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.

Stock prices jumped notably following the billionaire and legacy GSE investor's comment indicating Fannie and Freddie have been "stupidly cheap."

The government MBS guarantor ended a 15-day advance notice mandate for extensions on a filing deadline so those with a March 31 due date can still ask for one.

Lowering minimum standards and using a 2018 proposal as a basis for change may be the quickest path, according to Donald Layton, Freddie Mac's CEO from 2012 to 2019.

New questions about Fannie Mae and Freddie Mac's guarantee by experts who saw conservatorship start points to tensions in a stalled secondary offering.

Caution around the move is growing as focus has shifted to affordability, and current trading prices make near-term action unlikely, according to Wedbush.