Some credit unions are toying with the idea of selectively trimming their holdings of seasoned residential mortgages. A trend or just a blip in activity?

Fannie Mae and Freddie Mac combined cranked out $3.71 billion in STACRs and CAS notes in the second quarter, an 81.1% jump from the first three months of the year. (Includes data chart.)

Downgrades of GSE CRT transactions, Freddie Mac K-deals and student loan ABS followed a downgrade of the credit rating for the U.S. to AA+.

There’s an MI-linked CRT from Essent, a seasoned CRT from Freddie Mac and a non-agency deal from Jefferies; Goldman to issue commercial MBS with Amazon shipping facilities.

Some fees paid by mortgage insurers for loans included in nonperforming loan sales were not passed through to related credit-risk transfer deals.

Between 2015 and 2022, the private mortgage industry transferred more than $20.8 billion of risk exposure via the issuance of 51 insurance-linked notes through the capital markets.

GSEs endorse FHFA proposal on call options for CRT; office properties drive up CMBS delinquencies; Ginnie makes appointments.

After a three-month hiatus, Fannie rebounded with $1.44 billion in CAS deals, while Freddie’s STACR issuance totaled $611.0 million. (Includes data chart.)

Fannie has issued a cash tender offer on CAS notes totaling $4.24 billion. Details from that offer, plus pricing on its upcoming CAS REMIC, give some insight into the state of the CRT market.

In a book released this week, former FHFA Director Mark Calabria provides insight into some of the key policy decisions during his abbreviated tenure.