Secondary markets

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.

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

The government-backed acquisition heads off regulatory and financial concerns at a Swiss bank that could have affected overseas financial institutions that U.S. lenders count on.

Institutions can borrow against par-valued securities that they would otherwise have to sell at a loss when there's a run on deposits, and it could have effectiveness beyond its actual usage.

The new fees based on the DTI, which lenders have said is too likely to vary throughout the origination process for a single loan, will now go into effect in August.

Mortgage-backed securities aren't generally considered risky assets, but how SVB managed them contributed to its woes.