The Fed shifted its efforts to aggregate scattered MBS into second-level securitizations to its Freddie Mac portfolio. Ginnie's Platinum program didn't get a lot of use last year, but the agency led the way in REMIC issuance. (Includes two data tables.)

The legislation would carve out a mortgage licensing exemption for MBS. The bill is expected to pass, ending disruptions for non-agency MBS.

NAIC could increase oversight of its Securities Valuation Office ahead of a proposal that would allow the SVO to change ratings on insurance company investments.

Prices for autos and other vehicles are expected to increase due to tariffs set by the Trump administration. That will likely lead to worse performance for securitizations, according to Moody’s Ratings.

The private credit market, led by nonbank lending activity, is projected to reach $2.8 trillion by the end of 2028.

SFA and ICE developing securitization index; securitization involving professional sports on the horizon; rating services comfortable with Trimont acquiring Wells Fargo’s third-party commercial mortgage servicing business; deal structuring tool from dv01.

Ginnie Mae has no president and over the past weekend it lost 27% of its workforce. And delinquencies on underlying loans are rising. Time to worry?

But Fannie Mae and Freddie Mac pursued different strategies in their retained mortgage portfolios. (Includes data table.)

Freddie Mac’s superior performance in 2024 was largely due to higher profits in its multifamily business.

Banks are increasingly turning to nonbank partners to reduce their mortgage portfolios.