Ginnie Mae has no president and over the past weekend it lost 27% of its workforce. And delinquencies on underlying loans are rising. Time to worry?

Among the top 15 MBS issuers for the month: Planet Home, CMG Mortgage and Onity.

Bank statement and alternative-documentation mortgages helped increase expanded-credit MBS issuance in the fourth quarter of 2024. (Includes three data tables.)

The new licensing requirement represents a major shift for the MBS market, with participants scrambling to either comply or avoid loans in the state. A challenge to the requirements appears likely.

Initial projections suggest MBS backed by collateral in areas affected by the California wildfires will largely be unscathed.

Stifel is telling its clients to reallocate into MBS from corporates. Meanwhile, MBS trades slipped in December but posted a strong year.

The new PM Max program provides outsourcing services for MBS and ABS portfolios.

Many analysts are projecting increases for issuance of MBS and ABS in 2025. Delinquencies are also expected to rise, though not to troublesome levels.

The MBA noted that buyouts are capital intensive and can create liquidity stress for nonbanks, which don’t have large balance sheets to hold nonperforming loans for an extended period.

The Mortgage Bankers Association called on Ginnie Mae to create a new securitization program for early-buyout loans.