The supply of one- to four-family mortgage debt outstanding climbed 0.8% from June to reach $11.075 trillion as of the end of the third quarter. It was the highest MDO number since June 2009.
It was another strong quarter for warehouse financiers, with nonbanks slurping up more market share. If you're an IMB, credit is plentiful and then some. (Includes data chart.)
The proposed changes to the Community Reinvestment Act are intended to prevent banks from receiving credit on mortgages to wealthy people living in low-income areas.
The review will consider the interplay between the non-agency market and the GSEs and the impact of the exemption for qualified residential mortgages...
Fannie and Freddie are still on course to be recapped and released but fist a few things must occur: FHFA needs to create capital standards and then there's the investor road shows.
November was a so-so month for MBS trading as investors dumped bonds and bought stocks. Still, lending is strong, which should bode well for the creation of new agency securities.
One Freddie shareholder quipped: "It sounds like something their advisors would have recommended – to improve proforma [earnings] going into a capital raise."
RSS