The gain in November agency MBS issuance came from another rise in rate-term refinance securitization. United Wholesale Mortgage, Rocket and Pennymac remained the top three agency sellers despite declines in monthly volume. (Includes two data tables.)
The Securities and Exchange Commission received 31 comments in response to a concept release that sought feedback on revisions to disclosure requirements for publicly-registered securitizations.
CFTC Provides No-Action Letter Tied to Bank CRTThe move reduces some regulatory ambiguity for banks that issue certain credit-risk transfer transactions.
Federal Reserve Ends Balance Sheet ReductionAfter 42 straight months of allowing its security holdings to run off, the Federal Reserve finally said “enough.” The central bank’s current balance sheet: $6.134 trillion.
Federal banking regulators issued a final rule to adjust the enhanced supplementary leverage ratio that applies to large banks. The directive aims to increase bank investments in low-risk assets, including Ginnie Mae MBS.
Trade groups suggested improvements to Ginnie Mae’s reverse-mortgage securitization program, many of which were already included in a planned update the agency has gone quiet on.
Home equity investment securitization deal sizes increased with issuance in November and activity is expected to remain elevated in 2026 thanks to strong demand from investors.
Bill Ackman’s plan calls for Treasury to forgive its senior preferred shares, a strategy that some industry observers say would be politically risky for President Trump.
2025 has been a banner year for CLO issuance, mostly from refinance and reset transactions, but bank investment in the sector declined in the third quarter. (Includes data table.)
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