The new accounting standard, which went into effect just before the pandemic, requires the GSEs to anticipate losses over the life of the loan. 

KBRA said that third-quarter MBS issuance volume didn’t meet its expectations and will drop rapidly in the coming year. Meanwhile, both DBRS and Moody’s noted that performance is stabilizing. 

FirstKey Homes is set to issue an $871.6 million deal backed by loans on 1,827 income-producing properties, while Bridge Single-Family Rental Fund IV Aggregator is prepping its first SRF securitization. 

Daily MBS trading has been on the rise since April, a positive sign. It seems some investors are willing to buy and hold, but fear over what the Fed might do next rules the roost. 

Since the beginning of quantitative tightening in June, the Federal Reserve has been able to shed less than 20% of the agency MBS it had planned by this date. 

Ginnie Mae has been running stress tests on nonbanks since 2018. Each issuer is tested twice a year and the analysis covers all four Ginnie programs. 

UWM is offering a one-year price break of up to 300 basis points for mortgage borrowers. A price war? That’s how some in the industry view it. Note: Price wars have been known to end badly. 

Blank-check company Aurora Acquisition Corp. issued a new 10-K mid-month, saying little about its merger partner Better.com. 

In a new supervisory roundup, the bureau cited mortgage companies for violating loan originator compensation rules and charging payment-method convenience fees. 

A Cleveland homeowner says Nationstar (now known as Mr. Cooper) improperly declined his COVID-related loan-modification request. Nationstar acquired the servicing rights from another company.