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.

GSE MBS investors were frustrated with limited communication from the Trump administration even before FHFA Director Bill Pulte was named acting director of national intelligence this week. The appointment prompted more speculation about the future of the GSEs.

The voluntary scope aims to standardize practices among due diligence reviewers and also prevent a “race to the bottom.”

A Federal Reserve economist estimates that a one-percentage-point steepening of the yield curve reduces the spread between mortgages and the 10-year Treasury yield by 40 basis points.

MBS investors are likely to charge a pay-up for securities backed by mortgages underwritten with VantageScore — at least until they’re confident prepayment speeds won’t accelerate.

Some large banks repositioned their portfolios to favor Ginnie pass-throughs during the first quarter of 2026, and several regional banks closed mergers that grew their MBS holdings. (Includes two data tables.)

New Fed Chair Kevin Warsh has long criticized the size of the Fed’s balance sheet, in particular, its massive holdings of agency MBS.