Volume 2014 - Number 17
May 2, 2014
GSEs Raise Concerns About How TBA Market Could Function Under System Envisioned by Johnson-Crapo
There’s a growing concern among participants in the secondary market that legislation in the Senate to reform the government-sponsored enterprises won’t be able to allow the to-be-announced market to function. The latest anxieties were raised by officials at Fannie Mae and Freddie Mac, whose securities flourish in the TBA market. Legislation in the Senate from Sens. Tim Johnson, D-SD, and Mike Crapo, R-ID, calls for the preservation of the TBA market but doesn’t provide any roadmap for how the proposed Federal Mortgage Insurance Corp. should accomplish that feat. “Unless the FMIC sets...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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