The directive will make the GSEs "noneconomic" buyers of agency MBS.

Issuance of agency mortgage-backed securities increased by 10.8% on an annual basis to $1.235 trillion in 2025.

Some $8.65 billion of single-family rental securitizations were issued in 2025.

United Wholesale Mortgage issued $145.24 billion of agency MBS in 2025.

Some Democrats in Congress have also sought to limit institutional investment in the single-family market in recent years.

Five non-agency mortgage-backed securities started marketing Wednesday.

Some 69.8% of mortgages originated during the third quarter of 2025 were securitized.

Loans originated by Rocket account for 47.4% of the $672.1 million jumbo MBS Redwood started marketing Tuesday.

Analysts noted that the non-agency MBS market will benefit from strong investor demand, including more new shelves participating in the sector.

Annaly markets its first non-QM MBS of 2026; First Federal to acquire Fidelity Bank's NOLA Lending Group affiliate; Pinnacle completes acquisition of Synovous; MBA has a new CFO.