Chase expects a limited financial impact on its business from the LA-area wildfires.

Expanded-credit MBS issuance rose 13.2% in the fourth quarter of 2024 while prime non-agency MBS volume was down 2.9%.

The analysts said only legislation by Congress can address the government guarantee currently applied to Fannie Mae and Freddie Mac.

A coalition of 23 housing groups offered an enthusiastic endorsement of Scott Turner as secretary of the Department of Housing and Urban Development.

Rate-term refis helped to drive up residential MBS issuance in the fourth quarter.

Nick Bhargava, co-founder and executive vice president of regulatory affairs at Groundfloor Financing, said the current lack of affordable housing inventory has caused real estate investors to look to fix and flip more properties.

KBRA said 24 of its rated RMBS transactions have more than 5% exposure to properties located in the counties affected by the LA fires.

The top-five Ginnie MBS issuers in 2024: Freedom, PennyMac, UWM, Rocket and Newrez. All are nonbanks.

Deliveries of rate-term refinances into agency MBS declined by almost 40% on a monthly basis in December.

The maximum principal balance of the transaction, known as Series 2024-VF2, is $1 billion and the aggregate committed amount is $500 million.