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.
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.
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.]
As the White House continues looking for the right candidate to head the Federal Housing Finance Agency, industry trade group officials and stakeholders have come to the conclusion that the days of new “pilot” programs for Fannie Mae and Freddie Mac may be over.
The Trump administration should make the capital framework, pricing and underwriting standards of Fannie Mae and Freddie Mac more transparent and available to the public, according to the U.S. Mortgage Insurers, a trade group representing five of six private MIs.
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