Agency single-family business was down in February in almost every category, but 2025 so far is running ahead of last year’s pace. Ginnie reported a surge in modified-loan securitization. (Includes two data tables.)

If the GSEs are released from conservatorship, some participants in the agency MBS market insist the to-be-announced market, uniform MBS and Fannie/Freddie CRT activity should remain untouched.

Fourth-quarter declines in agency MBS portfolios at Annaly and AGNC were key to an overall downward drift in REIT MBS holdings. (Includes two data tables.)

The Trump administration is likely to take actions that will reduce regulation for the MBS and ABS markets. Industry participants are working to shape the actions while also staying nimble.

Fannie/Freddie MBS pools with maximum credit scores of 700 or less were the most sought-after “story” in 2024, with issuance jumping 64% from the previous year. (Includes data table.)

Public disclosure of credit-risk transfer issuance by banks is limited, but investor demand looks strong and activity is likely to increase.

The investment in the Figure Connect loan marketplace will be used for the purchase of non-agency assets.

Threats of the potential closure of the Department of Education could massively expand private student loan ABS issuance.

A bankruptcy could impact the firm’s outstanding securitizations, including forced replacements of the transaction manager/servicer.

Demand for MBS/ABS remains high, helped by interest rate trends. But President Trump is a wildcard, prompting some caution among investors.