The Federal Reserve is allowing its MBS holdings to run off in a predictable manner; Ginnie provides more details on change to buydown policy; Cerberus affiliate issues securitization of closed-end second liens.

It’s not clear how the Federal Housing Finance Agency’s decision to cut the DEI and ESG programs at the GSEs will impact MBS issuance.

New capabilities added to Freddie Mac’s basic ML-deal will allow corporate CUSIPs to be converted to municipal CUSIPs without impacting the tax-exempt status of the securities.

The REIT pooled nine multifamily affordable commercial real estate loans in a $384 million securitization.

Manufactured housing loans remain a tiny fraction of GSE acquisitions, but that share has nearly doubled since 2019 and plays an important role in spec pooling.

Deals rated by Moody’s successfully navigated the end of LIBOR reporting; vintage MBS wrapped by MBIA downgraded; GSEs, Ginnie increase MBS disclosures; ICE offers emissions estimates for MBS; new TBA trading app from South Street Securities.

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

Annaly Capital Management is preparing to issue a rare non-agency MBS stocked solely with bank-originated adjustable-rate mortgages. Loans in the MBS were originated by Associated Bank.

Declining multifamily valuations are pushing up capitalization rates while reducing debt service coverage ratios.

Bank of America issued a resecuritization this week tied to a 2017 multifamily K-deal. It’s the first rated issuance of its kind from BofA since 2016. The new resecuritization received an A- rating.