It’s been a quiet year when it comes to new stock issuance from mortgage REITs. But thanks to the Fed trimming rates by 50 basis points, with another 50 bps in cuts expected, activity could pick up markedly.

New stock issuance, of course, can spark concerns of dilution.

Foreign demand is an area of focus for Ginnie as the Federal Reserve has scaled back its purchases of agency MBS.

In an election year, some politicians might offer the impossible — like GSE reform. Trump appears to be there. But Harris?

Initial details on the planned re-proposal suggest that banks will benefit from the mortgage concessions by federal regulators.

GSE securitizations by Chase soared during August.

The outlook for Fed action is largely positive for MBS investors, with interest rate volatility expected to decline. Still, rate cuts will introduce a risk that has been limited for years: prepayments.

The loans backing the security were originated by A&D or its third-party correspondents.

The new $413.41 million MBS includes loans underwritten to bank statements and debt service coverage ratios.

Note: Truist Bank upped its Ginnie pass-through investment by $9.84 billion to $22.56 billion.