A proposal from FINRA to reduce the timeframe in which trades of MBS and ABS must be reported didn’t sit well with some industry participants, prompting the SEC to take a closer look at the proposal.

Secondary market players are showing a growing interest in expanded-credit mortgages and jumbos.

Federal Reserve Governor Michelle Bowman highlighted issues in the proposed rule that impact MBS and ABS.

Securitization of home equity loans increased again in the first quarter, driven by closed-end second liens. Issuance is growing exponentially, helped by nonbanks and investor demand. (Includes two data tables.)

The role of MBS in housing market bubbles is a sign that the financial sector now drives the real economy rather than the other way around.

Banks are reducing their appetite for mortgages, providing opportunities for nonbanks to boost their investment in the mortgage market. Redwood Trust looks to be leading the way in terms of bank partnerships.

The Structured Finance Association, which is developing a compliance tool to facilitate uniformity in the non-agency MBS market on QM standards, has run into a vexing issue regarding the definition of a QM.

The diversification inherent in MBS may be the ideal tool to combat climate risk in housing finance.

Regulators are pushing higher capital requirements on banks and looking favorably at credit-risk transfer transactions, helping to increase CRT issuance. Investor demand for bank CRT is also outstripping supply.

Great Ajax received a loan from Rithm Capital and moved to have Rithm serve as external manager of the REIT. Rithm plans to have Great Ajax invest in commercial mortgages.