Overall, Fannie Mae’s bottom line was bolstered by a strong quarter for originations: $510 billion in the second quarter compared to $380 billion in the first, according to Inside Mortgage Finance.
The Federal Housing Finance Agency so far has resisted calls to lower guaranty fees charged by Fannie Mae and Freddie Mac and quietly set a “minimum base guaranty fee” for the two government-sponsored enterprises. The FHFA directive was revealed in the 10-Q filings issued by the two GSEs this week accompanying second-quarter financial results that showed a combined $3.94 billion in net income. Their Securities and Exchange Commission filings, however, provided little detail about what the minimum base fee is. “In July 2016,” Fannie’s 10-Q states...
In the past, the FHFA has shot down a couple of program myths and emphasized that being significantly underwater doesn’t disqualify borrowers from using HARP…
Investors in Freddie (and Fannie Mae) common and preferred who bought their shares as a speculative investment are still wondering: Hey, when do we get some of that money?
Next week, the GSEs will release 2Q results and all eyes will be on the line item that reveals the net gain or loss from their derivatives, the instruments the two use to hedge their MBS positions.
New issuance of non-agency commercial MBS fell dramatically during the second quarter of 2016, more than offsetting a modest uptick in the production of agency multifamily MBS, according to a new Inside MBS & ABS analysis. Non-agency CMBS issuance fell to just $12.87 billion in the second quarter, a 29.5 percent drop from the first three months of the year. It was the lowest quarterly output of new CMBS since the second quarter of 2012, when just $10.63 billion of new securities were issued and the market was still finding its legs after the financial meltdown. New CMBS issuance has been...[Includes one data table]
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