Researchers at the Office of Financial Research have developed new ways to gauge the risks banks face from potential losses on their securities holdings. The researchers caution that a number of banks showed signs of stress similar to the banks that failed in early 2023.

Fitch upgrades ratings on nearly half of outstanding GSE CRT issuance; delinquencies in commercial MBS declined in December led by improvements in loan performance for office properties; Morningstar plans new criteria for assessing securitizations tied to small businesses.

The increase in impairments in November was the largest increase seen in the sector outside of COVID.

JPMorgan Chase, the largest bank retail lender, sold $9.23 billion of mortgages in the third quarter, up 5.5% from the second quarter.

Mortgages from a variety of lenders are included in the MBS, led by HomeXpress Mortgage with a 42.0% share.

First American's affiliated bank is operational and the title insurance provider's email system was restored.

Seven Republicans in the Senate wrote to federal banking regulators, amplifying concerns already raised by mortgage industry participants about proposed revisions to capital requirements for large banks.

The Supreme Court will hear a case on whether national banks are required to follow state requirements to pay interest on funds in mortgage escrow accounts. A ruling in favor of national banks could lead to an unlevel playing field, according to state regulators.

The company experienced a cyberattack Dec. 20 and took various systems offline to address the issue. System access started to be restored late last week and First American cautioned that sensitive data had been accessed.

The planned $440.9 million issuance is the largest jumbo MBS from Redwood in more than a year.