The transaction covers a pool of mortgages with an unpaid principal balance of $6.4 billion.

The analysis tracks holdings through March 2025. Several REITs subsequently reduced their holdings amid volatility on tariff policies.

The planned securitization is slightly larger than the $310.6 million deal the nonbank issued at the end of April.

"A decision of this magnitude cannot be made on a whim without Congressional consultation and approval," according to the lawmakers.

Annual home price appreciation slowed to 2.1% in May, the lowest level seen since March 2012.

There’s a $381.4 million expanded-credit MBS and a $309.3 million jumbo MBS.

“Buyers had more options in May than at any time since July 2020,” Zillow said.

Agency securitization of high-balance loans declined by 46.0% on a quarterly basis to $8.70 billion in the first quarter of 2025.

Ted Tozer, a fellow at the Urban Institute and former Ginnie president, said he expects the volume of buydowns in custom single-family pools to explode as lenders take advantage of the rule change.

It’s the first jumbo MBS from a PennyMac unit since a one-off issuance in 2013.