Refi volume in agency MBS issuance declined by 46.3% on a quarterly basis.

"We continue to view agency MBS as an attractive alternative to tight investment-grade corporate spreads, with the recent buildup in risk premiums making the relative value case for agency MBS even more compelling," analysts at Goldman Sachs wrote.

eXp's new partnership comes after the end of a similar relationship with Kind Lending.

Demand from MBS investors for non-agency mortgages diminished during the second quarter of 2026 as interest rates increased.

Trade groups said aligning ROV policies across mortgage programs would be preferable.

Some $10.016 trillion of residential MBS was outstanding as of the end of June, a first for the market.

Fannie Mae is starting to pull away from Freddie Mac with issuance of credit risk transfer transactions this year.

James Hodge, FHFA’s acting principal deputy inspector general, said the OIG is likely going to have to reduce its staff by upwards of 80% due to the reduced funding and the OIG will cease criminal investigations.

Pivot Financial CEO Jennifer McGuinness-Lubbert noted that even though the Federal Housing Finance Agency is treating the scoring models similarly for determining loan-level price adjustments with the GSEs, the secondary market has already seen the pricing grids that Fannie Mae and Freddie Mac developed for VS4.

“The rating downgrades reflect Wells Fargo’s continued reduction of its servicing portfolio and strategic shift toward government-sponsored enterprise and owned prime portfolios,” Fitch said.