It’s not clear how the Federal Housing Finance Agency’s decision to cut the DEI and ESG programs at the GSEs will impact MBS issuance.

A survey by Moody’s found that a relatively small share of banks have issued credit-risk transfer deals in recent years.

Amid a volatile month, Ellington Financial paused plans to issue an expanded-credit MBS and instead invested in MBS and ABS from other firms.

Vehicle retailer AutoNation has so far focused on nonprime borrowers.

CMBS securitizers can exploit an exemption in risk retention rules to unload riskier tranches. Researchers said this may signal lower loan quality to investors.

The agency moved to limit the volume of mortgages with buydowns flowing into its MBS program. The restrictions apply only to temporary buydowns, which are less concerning to investors than mortgages with a permanent buydown.

With specified pools accounting for half of GSE single-family MBS issued in the first quarter, the most popular option was MBS with high social-mission scores. (Includes data table.)

While the bureau seems to be stepping away from an enforcement focus within the ABS market, industry attorneys note that a Third Circuit decision is still binding.

The Trump administration appears unlikely in the near-term to work on ending the conservatorships of the GSEs. And any potential moves will aim to limit disruptions in the mortgage market, according to officials in the administration.

Redwood Trust is seeing a surge in sales of seasoned mortgages by banks.