PennyMac Mortgage Investment Trust started issuing non-agency MBS in November as part of an effort to boost its investments in credit-sensitive assets. The REIT is now one of the most active players in the space.

The only banks among the top 10 GSE sellers in the first half of 2025 were Chase Home Finance and AmeriHome Mortgage. (Includes two data tables.)

PennyMac Mortgage Investment Trust has been issuing about one prime non-agency MBS per month, stocking the deals with GSE-eligible mortgages for investment properties and second homes. Now the REIT is set to issue jumbo MBS.

Deliveries to Fannie and Freddie rose last month even as the GSEs’ market share is the lowest since the global financial crisis. (Includes two data tables.)

Mortgage loan acquisitions by Fannie Mae and Freddie Mac accelerated in April, driven in part by a jump in refinance lending. (Includes two data tables.)

Rosy recapture-rate projections prompt some pushback; Fitch removes Rocket from downgrade watch; PennyMac upsizes debt offering; MISMO seeking comments.

Rocket’s pending acquisition of the nation’s largest subservicer is making some MSR owners consider a subservicer that isn’t owned by Rocket. Mr. Cooper isn’t giving up, with plans for additional growth.

The nonbanks took negative marks on their large holdings of mortgage servicing rights as hedges didn’t fully offset a decline in interest rates on mortgages during the first quarter.

Share among megabanks and large nonbanks grew as overall deliveries to the GSEs faltered in the first quarter. (Includes two data tables.)

So far this year, 53.9% of GSE deliveries went to Freddie Mac compared to 44.7% in the first two months of 2024. (Includes two data tables.)