KBRA downgrades jumbo MBS issued by JPMorgan Chase in 2015; Community Bank sells MBS holdings at a loss; Morningstar details private-rating share.

FHFA established a new policy — that no GSE servicer should have a market share exceeding 20% — when it authorized Fannie and Freddie to continue doing business with the combined entity that will be formed following Rocket Companies’ planned acquisition of Mr. Cooper Group.

Key mortgage industry stakeholders say an IPO of GSE stock would have trouble attracting investors if FHFA remains their conservator or they are released without an explicit guarantee.

Credit-risk transfer activities at Fannie Mae and Freddie Mac wobbled in the second quarter after a modest increase in the first three months of 2025. Issuance fell for STACRs but not for CAS notes. (Includes data table.)

The partnership adds to the growing number of issuers who are working with third parties to offset capital requirements for risk retention.

If MBS values are poised to increase, now might be a good time for REITs to raise cash and buy securities on the cheap.

The rule, implemented in June, aims to prevent conflicts of interest in the ABS market. The SEC provided no-action relief in May, helping ease compliance with the rule.

ABS sectors including commercial equipment, shipping containers and trucking could experience the biggest negative impacts from rising tariffs, according to S&P.

Commercial MBS servicers are utilizing appraisal reduction amounts and nonrecoverable advance determinations more often as servicer advances increase.

Mortgage rates and MBS spreads may depend on how the White House structures the proposed IPO for the GSEs and how markets react to a potential merger of the two mortgage giants.