Even with strong earnings the GSEs are making little progress on meeting stringent capital levels set during the first Trump administration.

For MBS investors, the biggest complication in the GSEs’ implementation of VantageScore 4.0 is likely loan-level pricing adjustments.

Fannie Mae expanded its portfolio by adding both whole loans and MBS, while Freddie Mac cut whole loans as it added MBS.

The agency will exclude FHA mortgages on trial payment plans when calculating an issuer’s delinquency ratio.

The Second Circuit Court of Appeals altered some of its original findings in a lawsuit dealing with MBS liability under the Employee Retirement Income Security Act.

Much of the first-quarter decline in CLO issuance came from a sharp slowdown in reset and refinance transactions. Meanwhile, issuance backed by commercial real estate is having a moment.

Itasca Park issued its first non-agency MBS issuance this week and Blackstone made its return to the non-agency MBS market as an issuer.

The new partnership adds a new funding channel for Upstart’s growing unsecured consumer loan originations.

Federal student loan program changes will take effect in July, impacting student loan ABS.

The value of agency MBS declined sharply following the start of the war with Iran. More recently, volatility has declined, prompting some major agency MBS investors to see continued promise in the assets.