Eric Hagen, an analyst at BTIG, said PennyMac’s offering “could lead to more, although it’s tough to say who could be next.”

Interest rates could stay for higher than longer than previously expected...

Mortgage buybacks at banks increased slightly on a quarterly basis in the second quarter, though repurchase volume was down 30.4% on an annual basis in the first half of the year.

GSE MBS issuance declined by 6.2% on a monthly basis in August.

The requirements were published in August 2022, providing issuers with a long lead time to gain compliance.

Applications increased even as interest rates ticked up.

Only four other issuers have offered jumbo MBS during the third quarter, and none since mid-August.

The top three REIT holders of MBS at June 30: Annaly, AGNC and Two Harbors...

The changes apply to various types of agency MBS, including the to-be-announced market, specified pools and collateralized mortgage obligations.

It’s the seventh expanded-credit MBS of the year from the real estate investment trust.