Many of those green loans will still be eligible for purchase by the GSEs. Social bonds appear unaffected.

The Structured Finance Association says the GSEs should be able to accept multiple credit scores on a single application and disclose that information to MBS investors.

Investor demand is expected to remain strong for agency MBS despite some volatility expected for the rest of the year.

The Trump administration has provided little guidance on how the GSEs will achieve their goal of purchasing $200 billion of agency MBS. Still, actions by Fannie and Freddie have helped competing agency MBS investors get comfortable with activity by the mortgage giants.

While FICO and VantageScore debate whose new credit score model performs best, industry insiders say the transition to new scoring models may take years.

In May, the combined retained mortgage portfolios of Fannie Mae and Freddie Mac saw their first monthly decline in more than a year.

SFA and other trade groups are seeking major changes to the re-proposed bank capital requirements. MBA raised concerns that non-agency MBS would receive more favorable capital treatment than GSE MBS.

A property law expert said securitizing real property interests encourages home price inflation.

Annaly Capital Management slipped to second in REIT agency MBS investors as it diversifies into MSR and non-agency. AGNC Investment rose to the top, focused almost exclusively on agency MBS. (Includes two data tables.)

The automated AI trade included a $3 million to-be-announced deal that went to a competitive auction across all dealers, and two $500,000 trades that were routed to dealers selected by Pike Creek Mortgage.