FHFA Director Bill Pulte cited massive price hikes on FICO scores in recent years as the reason for making VS4 widely available through the GSEs.

The deal is being issued with Redwood’s Sequoia shelf name and continues the numbering convention seen with prior issuance from Redwood.

“Market sentiment was leaning toward a rate hike at the next Fed meeting, but this could give the Fed pause in hiking rates as they look to convene this month,” said Cody Echols, a capital markets technology advisor at Mortgage Capital Trading.

Some of the largest bank investors in MBS reduced their holdings of agency MBS during the second quarter.

FHFA director Bill Pulte expressed frustration that the credit bureaus haven’t sufficiently engaged in reform talks with FHFA, accusing them of “cartel-like” behavior.

Although investors would own just one listed security, Fannie and Freddie “could maintain separate underwriting, pricing, credit and customer service decisions,” according to Jon Oksenholt, the eponymous founder of Oksenholt Capital Management.

Jumbo servicing declined during the second quarter at Bank of America, Chase and Wells Fargo.

Private MIs are fully prepared for the credit score transition at the GSEs, according to Seth Appleton, president of U.S. Mortgage Insurers.

Vishal Garg issued a press release Wednesday, calling himself the “true” CEO of Better Home and Finance.

After getting close to 4.80% Tuesday, the 10-year Treasury rate declined somewhat Wednesday.