Ginnie President Joe Gormley said the update allows for greater efficiencies and cost savings, and will make the agency’s digital collateral program more attractive to new issuers.

Issuers of non-agency MBS are in the market with expanded-credit, prime and closed-end second offerings.

The combined entity of Rocket and Mr. Cooper overtook UWM for GSE loan sales in 2025.

The promised of increased MBS purchases by Fannie and Freddie is already having an effect on mortgage interest rates.

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.