DBRS saw a relatively small 5.7% decline in MBS ratings from the first to the second quarter, and actually upped its ratings of expanded-credit mortgage MBS...
More importantly, the analyst noted, the council threatened to impose still stricter standards or designate the GSEs as systemically important financial institutions if the capital rule was materially softened.
Fannie and Freddie securitized $556.2 billion of single-family loans that were aged three months or less when the MBS was issued, a whopping 81.0% increase from the prior quarter.
The comeback in the July-to-September period was led by JPMorgan Chase, which brought $2.12 billion of prime non-agency MBS to the market spread across four deals...
Payoff removals fell 0.4% from July to August, and by 2.8% for FHA loans. The VA program, which sees much heavier refinance activity, recorded a 1.9% increase in payoff removals, edging up to its highest level of the year.