Carrington hasn’t been identified in rating reports as a contributor to any securitizations of closed-end second liens issued this year.

“The entire portfolio has experienced overwhelmingly positive rating pressure,” Fitch said of GSE CRT issuance.

Issuance declined by 17.8% compared with the first quarter.

The Trump administration is describing The Great American Mortgage Corp. as "the all new Fannie Mae and Freddie Mac: bigger and better than ever."

Chase has issued a handful of DSCR securitizations since 2022, with a $371.3 million deal in the works.

The MBA anticipates upward pressure on mortgage delinquencies.

Increased deportation risks and uncertainty about the future of some immigration programs have led non-QM lenders to reduce lending to non-resident borrowers.

Newrez once again overtook Select Portfolio Servicing during the second quarter of 2025 in terms of new servicing tied to non-agency MBS.

FHFA is working on changes to the GSEs' loan-level price adjustments, according to FHFA Director Bill Pulte.

The potential privatization of the GSEs has led more lenders to consider the acquisition of non-QM brokers, but the challenges in the market may cap deals.