Rate-term refinances drove the modest increase in agency MBS issuance in November, especially at Fannie and Freddie. Ginnie production was down. (Includes two data charts.)
An SEC committee hosted a panel discussion in November regarding the compensation model for rating services. The regulator hasn't made a decision on whether reforms are needed to the issuer-pays model.
FSOC continues to focus on the risk posed by nonbanks, which are key players in the MBS market. But is the regulator worrying too much? Opinions differ.