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.

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.

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

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.

Housing finance aficionados like the prospect of a GSE exit from conservatorship that includes the retention of the Treasury’s PSPA, especially if done in conjunction with a sovereign wealth fund.

Rithm has once again used its servicing rights in a capital markets deal. Why haven’t other MSR owners followed its lead?

Nothing like a good trade war to drive down MBS values and cause interest rates to rise. Yes, some mortgage investors are nervous. Overblown? We’ll find out.

HECM loan issuers are uncertain of the timeline for Ginnie to implement HMBS 2.0 amid agency-wide staffing cuts, but are confident it retained some degree of primacy on the agency’s to-do list.

Plaintiffs in Berkley Insurance v. FHFA may finally receive a $612.4 million jury award granted in August 2023.

Fed reduces redemption cap for Treasury securities, allows agency MBS runoff to proceed; Annaly to issue securitization with HELOCs; non-agency MBS term financing transaction from PIMCO.