The new single security is on track for its June 3, 2019, launch and trading is expected to begin around March, according to Fannie Mae and Freddie Mac executives speaking at the Mortgage Bankers Association’s annual conference in Washington last week.
Issuance of single-family rental securities this year is on track to be 60.0 percent higher than issuance in 2017, according to analysts at Bank of America Merrill Lynch. The sector has been helped by ongoing demand for rental properties and strong performance.
Issuance of collateralized debt obligations holding trust preferred securities has resumed in recent years after performance issues related to the financial crisis. Investors report strong demand for TruPS CDOs and suggest that banks should issue more of the deals.
The Federal Housing Finance Agency, Fannie Mae and Freddie Mac are questioning the logic behind a recent federal court ruling that appears to give investors in the government-sponsored enterprises’ stock a glimmer of hope in their legal battles with the federal government.
Nonbanks continued to gain ground in the GSE servicing market during the third quarter of 2018 as a number of mid-size firms posted big gains in their portfolios. [Includes two data charts.]
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