Delinquency rates on commercial MBS in April hit a level last seen in September 2021. And AAA investors in a commercial MBS suffered a loss this month, a first for deals issued after 2010.

The $3.4 billion whole-business securitization received a preliminary BBB rating from Kroll Bond Rating Agency.

SIFMA warned that Freddie’s proposal to acquire second liens could pose risks to the to-be-announced, credit-risk transfer and consumer-loan markets. SFA said the proposal, if approved, should be limited.

Although Fannie saw a 20% decline in Supers MBS issuance in the first quarter, Fed data show a substantial increase in the central bank’s “aggregated” holdings of Fannie securities. (Includes two data tables.)

Beginning in June, Ginnie will allow commingling of digital and paper mortgages in its MBS.

Demand in the secondary market for non-qualified mortgages is helping to fuel originations of the loans. Delinquencies in the sector have ticked up but aren’t yet a major concern.

Banks are looking for capital relief, regulators are making issuance of credit-risk transfers easier for banks to complete and investor demand for the deals is strong.

With an eye toward attracting more mature ESG investors from Europe, Fannie and Freddie updated their Mission Index scoring.

UWM has jumped into the 100% LTV market with a two-lien loan. But what about the take-out in the secondary market? UWM is quiet.

A new Optimal Blue whitepaper details the need for a LIBOR alternative in the secondary market for non-QM loans.