Four issuers of jumbo MBS started marketing deals this week, including a $1.02 billion security from JPMorgan Chase.

The number of loans 30-days past due was up 13.6%...

Bayview Asset Management and Flagstar Bank are the latest non-agency MBS issuers to stock deals with investment-property mortgages that could have been sold to Fannie and Freddie...

A few weeks back, Ginnie issued a request for information on a proposal that would tack on a capital requirement of an additional 25-basis points of an applicant’s Fannie Mae and Freddie Mac obligations.

Both the FHA (11.1%) and the VA insurance programs (20.4%) saw significant increases in purchase-mortgage activity...

Things aren’t back to pre-crisis levels by any means. In 2006, quarterly non-agency MBS issuance averaged over $285 billion every three months. It will take a miracle to reach that level for all of 2021.

It was never entirely clear to conventional lenders why the LLPA was installed in the first place given the relatively low COVID-related forbearance readings on GSE loans.

Will Fannie and Freddie ride Ginnie's coattails and usher in higher capital standards as well?

The $224 million MBS is stocked with 30-year mortgages underwritten based on debt-service coverage ratios.

To be fair, Kaplan didn’t suddenly come to this conclusion. He’s been pushing the Fed to consider tapering since at least early spring.