New Appetite for Mortgage Bonds That Sidestep Fannie and Freddie

Wall Street Journal, Aug. 23, 2021–Ben Eisen (subscription)
The so-called private-label mortgage market—in which financial firms serve the middleman role of creating giant pools of loans and selling them to investors—had more than $42 billion of issuance in the second quarter. That is the most since the pandemic started and almost the most for any quarter since the last financial crisis.