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Volume 2011 - Number 47

December 9, 2011

Downloads Available: Top Agency MBS Issuers in November 2011

Downloads Available: Top CMO/REMIC Underwriters in November 2011


Fannie Drives Solid Increase in Agency MBS During November, Analysts Wait for HARP

Agency residential MBS issuance in November rose to its busiest level since the start of 2011, but seasonal slowdowns in housing activity and a refinance boom that’s losing steam suggest that the current wave is at or near its peak. Fannie Mae, Freddie Mac and Ginnie Mae generated a total of $114.53 billion in new single-family MBS during November. That was up 11.2 percent from October volume and marked the highest monthly production level since January 2011, when the agencies issued $137.76 billion. But consumer demand for refinance loans has been...(Includes two data charts)

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

Are current mortgage underwriting standards too tough?

Yes, they don’t reflect current market conditions and need to be adjusted to allow borrowers with below 700 FICO scores and smaller downpayments to qualify for mortgages.
Yes, and something needs to be done to significantly reduce repurchase or buyback risk so that lenders don’t apply even tougher underwriting overlays.
No, the standards are appropriate given current risks and the major default problems the mortgage market has experienced over the past several years.

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