Some of the most influential trade groups in housing finance and related industries late this week went on record supporting libertarian economist Mark Calabria to be the next permanent director of the Federal Housing Finance Agency.

At his confirmation hearing before the Senate Committee on Banking, Housing, and Urban Affairs Thursday morning, Mark Calabria, President Trump’s nominee to take over the Federal Housing Finance Agency, said the rumors were true: He did, in fact, discuss plans to recapitalize the government-sponsored enterprises with administration officials.

The overall mortgage securitization rate fell slightly in 2018, with 70.0% of home loans originated in the primary market ending up in MBS pools, according to an Inside MBS & ABS analysis. [Includes one data chart.]

Fannie Mae and Freddie Mac racked up $25.19 billion in combined net income in 2018, their most profitable year since 2013, when earnings were inflated by accounting rules for deferred tax assets. [Includes one data chart.]

Carrington Mortgage Services loosens its underwriting guidelines and improves pricing for various expanded-credit products; Home Point Financial joins the expanded-credit market; Essent Group isn't interested in proving PMI for non-QMs...

Mortgage-backed securities with expanded-credit underwriting standards are flowing into the market. Presale reports were published this week for three deals and others are in the works.

Fannie Mae and Freddie Mac continue to let their holdings of nonprime mortgages run off, with some differences in the rate at which the holdings are diminishing, according to a new analysis by Inside Nonconforming Markets. [Includes one data chart]

The pricing offered in the non-agency market for certain loans eligible for sale to the government-sponsored enterprises isn’t as attractive to sellers as it once was, according to industry participants.

Mortgage-backed securities with non-qualified mortgages look attractive to some real estate investment trusts. PennyMac Mortgage Investment Trust plans to join other REITs issuing non-QM MBS while officials at Chimera Investment said the firm is considering buying non-QM MBS from other issuers.

Seer Capital Management is set to issue its first mortgage-backed security with non-qualified loans. The New York-based company launched its non-QM program in 2013 and it owns HomeXpress Mortgage, a wholesale lender founded in 2016.