A bill that would exclude mortgage trustees from new Maryland licensing requirements passed a state senate committee vote.

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.

Santander Bank was the largest issuer of vehicle ABS in 2024. The bank’s non-agency MBS effort has the ability to commit $2.5 billion in capital.

The investment in the Figure Connect loan marketplace will be used for the purchase of non-agency assets.

Demand for MBS/ABS remains high, helped by interest rate trends. But President Trump is a wildcard, prompting some caution among investors.

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.

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.

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