GSE regulator Sandra Thompson: “FHFA has nothing against big players, but their size means that they don’t have to worry about accessing the capital markets. Small lenders, on the other hand, may be able to leverage local knowledge to best serve their communities.”

Overall, the top seller was American Financial Network, with $11.94 billion...

United Wholesale plans to issue MBS that include prime non-agency jumbos...

On the rise: cash-window purchases...

Morgan Stanley resumed issuing prime non-agency MBS in December 2020 after years away from the market.

Refinance and restructuring of previously issued deals accounted for 62.8% of first-quarter CLO and CDO issuance. A total of $47.94 billion of such deals hit the market...

It's like "free" money...

While the limit is near the level of GSE acquisitions of non-owner occupied properties in recent years, the way the cap has been implemented is prompting lenders to seek new outlets.

Fannie Mae continues to take a dim view of the capital relief it gets for CRT activities under the enterprise regulatory capital framework...

The main buyers of jumbos? Answer: commercial banks, accounting for 54.6% of purchases from unaffiliated sellers...