Agency pass-through MBS remain the most popular asset in bank holding company trading accounts, but there was a sharp increase in agency multifamily securities during the third quarter.

GA-based lender and servicer Groundfloor hit the ABS market for the first time by issuing a securitization with deferred payments tied to residential transition loans.

In business for 40-plus years, FCI has stuck to its knitting of servicing delinquent and nonprime product. According to management, it’s secret sauce is focusing on state-of-the-art technology, including AI.

The new bonds help the GSEs reduce the amount of capital they must set aside under the enterprise regulatory capital framework.

The investment vehicle plans to mainly buy whole loans, but may also purchase ABS.

Rising mortgage delinquencies increase spreads on residential MBS, as expected, along with spreads on credit card, student loan and auto loan ABS.

After noting a decline in market share during the second quarter, nonbanks increased their share of originations to 65.5% in the third quarter. The increase was driven by the largest nonbanks.

There are at least two Canadian banks actively soliciting nonbanks for warehouse lines of credit. The moves come with the hope that originations will improve in 2025.

The lawsuit accuses Rocket Homes of steering customers to its affiliated companies for mortgage loans and closing services.