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Volume 2014 - Number 29

July 24, 2014

Freddie’s H-Pools Backed By Modified Mortgages Seen as Good Investment to Avoid Prepayment Risk

MBS from Freddie Mac backed by modified mortgages offer investors protection from prepayment risk in an environment in which interest rates are expected to climb, according to analysts at Barclays Capital. The analysts said Freddie’s H-pools are particularly attractive, as the loans in the deals have been restructured under the Home Affordable Modification Program. Slightly more than $1.0 billion in H-pools have been issued, with the most recent activity in October. Barclays noted that Freddie could significantly increase its issuance of H-pools as the government-sponsored enterprise has accumulated a substantial amount of modified mortgages in its retained portfolio in recent years. Freddie had...

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



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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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