Decisions by federal regulators have combined to promote issuance of agency MBS over non-agency MBS, a trend that is expected to continue for years to come, according to industry analysts. Panelists at a talk this week sponsored by the American Enterprise Institute cited rules from the Consumer Financial Protection Bureau along with pending rules to set requirements for risk retention on MBS issuance and capital requirements for originations and securitization. “Until you know what the rules of the game are going to be...