The gain in November agency MBS issuance came from another rise in rate-term refinance securitization. United Wholesale Mortgage, Rocket and Pennymac remained the top three agency sellers despite declines in monthly volume. (Includes two data tables.)

Federal Reserve Ends Balance Sheet ReductionAfter 42 straight months of allowing its security holdings to run off, the Federal Reserve finally said “enough.” The central bank’s current balance sheet: $6.134 trillion.

Federal banking regulators issued a final rule to adjust the enhanced supplementary leverage ratio that applies to large banks. The directive aims to increase bank investments in low-risk assets, including Ginnie Mae MBS.