Only a handful of banks with less than $25 billion in assets have completed CRT transactions.

S&P says the current AA+ rating enjoyed by the GSEs is a function of their government support. Because of their capital shortfalls, both GSEs have a B- standalone credit profile rating.

Concern is rising that auto, mobile phone and home improvement ABS could face more defaults and poorer performance due to increased tariffs.

Rocket is set to acquire Mr. Cooper, the second-largest servicer of loans in agency MBS. Rocket, which has a significantly high recapture rate, plans to boost retention efforts on Mr. Cooper’s portfolio.

Reps. Ann Wagner, R-MO, and Brad Sherman, D-CA, raised concerns of the securitization industry with Federal Reserve Chair Jerome Powell. They aim to influence a proposal to implement changes to capital requirements for large banks.

The yield on the benchmark 10-year Treasury has fallen in recent weeks but primary mortgage rates haven’t moved in lockstep.

An affiliate of Balbec Capital brought three deals in March alone with another set to begin marketing shortly. Goldman Sachs and Citi also issued non-agency MBS with reperforming loans.

GSE watchers believe that, to appropriately compensate the taxpayer for their government guarantee, Fannie and Freddie would have to pay a commitment fee as high as $46 billion a year.

Switch’s CMBS is the second-largest securitization ever completed in the data center securities space.