Elevated home prices are limiting home sales.

Issuance of single-family agency MBS increased by 13.1% from the second quarter, hitting its highest level in two years.

Even with elevated levels of delinquencies, MBS investors are protected due to credit enhancement and low loan-to-value ratios.

Fitch Ratings upgraded its servicer ratings of Planet Home Lending, citing a strong recapture rate, among other attributes.

An estimated 64.2% of newly-originated home loans were securitized in the second quarter, down from 67.2% in the first quarter.

The MBS is stocked with scratch-and-dent loans, early buyouts from Ginnie MBS and non-QMs.

Freedom Mortgage is set to issue a $255.0 million transaction tied to financing acquisitions of mortgage servicing rights for loans associated with Fannie Mae.

Currently, a handful of states have specific regulations for HEIs and federal oversight is limited as the Consumer Financial Protection Bureau is evaluating the market.

An affiliate of JPMorgan Chase was the winning bidder on an auction by Freddie Mac of nonperforming loans with a balance of $188.3 million.

Fitch Ratings remained the top player for rating non-agency MBS in the second quarter of 2024 but the firm lost some market share.