The non-agency securitization market for closed-end seconds has grown substantially in the past year as lenders look to expand their product offerings with refinance business limited.

Freddie saw the bigger monthly increase in MBS output, up 9.4% from April. Business was up 6.3% at Fannie.

Most of the increase in Freddie buybacks in the first quarter of this year came from loans that were securitized in 2023, which totaled $219.1 million and represented 65.8% of Freddie repurchases in early 2024.

The reduction in costs helped lenders that maximize LPA maintain profitability while the industry as a whole experienced a negative 5.8% margin, according to findings from Freddie Mac.

The new policy includes the implementation of a waterfall of loan modifications designed to reduce borrowers' monthly mortgage payment by at least 20%.

The Trump administration made substantial progress toward ending the conservatorship of Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac issued $428.04 billion of Supers deals backed by first-level uniform MBS during the first quarter of 2024.

Those opposed include the American Bankers Association, the Housing Policy Council, the Securities Industry and Financial Markets Association, the Structured Finance Association and U.S. Mortgage Insurers.

Sales of existing homes declined by 1.9% on a monthly basis in April.

Pete Mills, a senior vice president of residential policy and strategic industry engagement at the MBA, wrote that the proposal has theoretical benefits but they’re impossible to assess given the limited details FHFA included in the request for comments.