Issuance of agency single-family MBS was up modestly in November, stemming a two-month slide in production, according to a new Inside MBS & ABS ranking and analysis.
Rep. Hensarling: “This means the government needs to be in the last-loss position, with multiple layers of private capital, as diversified as possible, stacked up before it.”
It appears that Congressional reform of the housing-finance system – and final resolution of Fan-nie Mae and Freddie Mac – is back on track with a key piece of good news for MBS investors: an ex-plicit federal guarantee on conventional product looks likely.
Panelists during a House Financial Services Subcommittee on Housing and Insurance hearing this week disagreed on the type of credit-risk sharing transfers that future MBS guarantors should use in a reformed housing-finance system.
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