Capital markets

The government-sponsored enterprise only tweaked the two-year mortgage origination forecast, with a $6 billion reduction for 2023, but an increase of $7 billion for 2024.

Although issuance of new securitizations has been low compared to year-ago levels, it rebounded as spring buying began

The offering comes amid an ongoing wave of private and public MSR sales.

After a selloff toward the end of 2022 when it sought to reduce liquidity risk, the company resumed purchases of whole loans last quarter.

The legislative proposals backed by Republican members of congress seek to undo the latest cross-subsidized adjustments to loan fees that two large government-related mortgage investors charge.

A couple small deals with some unusual regional concentration also are in the market and one broker says many billions of dollars more are in the pipeline.

It's a debate that matters more than ever, as bond traders ponder the end of the Federal Reserve's aggressive campaign of interest-rate hikes and wager on cuts starting within months.

Demand for AAAs is still challenged as banks, the biggest buyers, are facing too much uncertainty and volatility around their balance sheets.

Subordinated debt issuances and asset-backed securities have helped institutions of all asset sizes weather recent market uncertainties and fuel campaigns for growth, according to executives and investment experts.

The agency, which oversees government-related investors that set underwriting parameters in the U.S. mortgage market, estimates the process will begin in 2024.