Loans made with balances above the 2025 loan limits won’t be eligible for delivery to the GSEs’ standard programs.

Loans in the MBS were originated by Southwest Stage Funding via its Cascade Financial Services unit.

Demand for refis declined last week while applications for purchase mortgages held steady.

Elevated home prices are limiting home sales.

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.

The retail channel remained the largest source of nonconforming loans, though the channel’s market share dropped in the first half of 2024.