“Agency MBS prepayment speeds slowed in September, but they still hover near the multi-year highs reached last month,” according to a report from Keefe, Bruyette & Woods.
CBO’s comments were contained in a report that takes a “what if” approach to allowing Fannie and Freddie to retain as much as $5 billion of capital a year for 10 years...
Jumbo lending has a much more retail focus: the vast majority of loans are originated for portfolio or, in the case of non-depositories, sale to a bank or other portfolio investor.
Freddie Mac has begun pilot testing its new Dealer Direct system for swapping legacy participation certificates for new single securities with a select group of dealers, the government-sponsored enterprise said in an update issued this week. In transitioning to the single security, Freddie will give all investors in its existing MBS that have a 45-day payment cycle the option to exchange them for the new 55-day securities. That process will be transacted through the Dealer Direct electronic platform. Holders of legacy MBS will work...