The five most active issuers were all nonbanks, led by Freedom Mortgage.

The investor count on rated securitizations from Unlock increased three- to four-fold compared with the unrated deal the firm issued in 2022.

Regulators will propose that large banks be required to hold capital against the unrealized gains and losses on MBS.

The issuance will bring Rocket’s securitization volume of closed-end second liens to $3.30 billion this year.

Purchase-money mortgages accounted for 82.5% of agency MBS issuance during August, though the refinance share is growing.

Previous industry changes — the Uniform Mortgage Data Program, the single security initiative and the transition away from the London Interbank Offered Rate — took longer than expected to put into place and caught some stakeholders flat-footed.

Mortgage repurchases and other indemnifications by commercial banks and savings institutions in the second quarter were the lowest since before the 2008 financial crisis.

Income from mortgage production increased in the second quarter as servicing income declined.

REITs increased their holdings of agency MBS during the second quarter while reducing investments in non-agency MBS and credit-risk transfer securities.

After issuing a final rule on open banking, the CFPB plans a follow-on rule for open banking with mortgages.