Secondary markets

The withdrawn loan level pricing adjustment matrix changes were mostly about election-year politics and the Federal Housing Finance Agency's plan for credit scoring changes is even more impractical, the Chairman of Whalen Global Advisors writes.

Although issuance of new securitizations has been low compared to year-ago levels, it rebounded as spring buying began

The move cancels the fee Fannie Mae and Freddie Mac would have imposed on certain loans for which the borrower's total debt exceeded 40%.

Economic uncertainty slowed multifamily and commercial activity to the lowest level in 9 years, the Mortgage Bankers Association said.

The offering comes amid an ongoing wave of private and public MSR sales.

Bank turmoil caused a reduction in adjustable-rate and refinancings, but jumbo product availability actually grew in April.

After a selloff toward the end of 2022 when it sought to reduce liquidity risk, the company resumed purchases of whole loans last quarter.

Changes to loan-level price adjustments are perfectly consistent with the FHA's mission and with the safety and soundness of Fannie Mae and Freddie Mac.

The government-sponsored enterprise improved slightly upon the previous quarter's numbers, but contraction in lending remains a risk.

But the company's earnings were up due to lower loss provisions.