Top officials at Fannie Mae and Freddie Mac extolled the major improvements made at the two GSEs over their decade in conservatorship, and a key Trump administration official reiterated his view that the gains should be preserved.
Issuance of new securities backed by commercial mortgages fell 4.9 percent from the second to the third quarter of 2018, according to a new Inside MBS & ABS market analysis. [Includes one data chart.]
Although legislative reform of Fannie Mae and Freddie Mac is dead for now, Ginnie Mae supporters continue to worry about what might happen to agency MBS spreads if the government-sponsored enterprises get an explicit guarantee on their MBS.
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.]