“The flow market remains consistent with pricing, while the bulk market ebbs and flows with the 10-year and mortgage spreads,” said Tom Piercy of Interactive Mortgage Advisors.

Meanwhile, the volume of securitized retail loans was down 3.6 percent from the second quarter.

The megabanks – Wells Fargo, JPMorgan Chase, Bank of America and U.S. Bank – ranked first through fourth, respectively, with a combined agency market share of 40.3 percent at Sept. 30.

Phoenix Capital is out with a new “flow” servicing offering where the seller will deliver $40 million to $50 million per month in Fannie Mae and Freddie Mac product.

In other GSE news, the Senate version of legislation to cap CEO salaries at Fannie and Freddie is moving along and a vote could happen this week…

The CSP joint venture is staffed and “no longer living like poor cousins” at the GSEs themselves.

Fannie Mae and Freddie Mac rolled into their eighth year of government conservatorship pushing forward the two major reforms they can accomplish under their existing charters: selling off a significant portion of the credit risk on their current business and building a new MBS platform. Top officials from the two government-sponsored enterprises urged the industry to be patient about the launch of the common securitization platform and, a little further down the road, the single security for GSE to-be-announced MBS. “It will happen...

A number of factors are making new MBS in the to-be-announced market less attractive to investors than MBS issued a few years ago, according to a report from Deutsche Bank Securities. “Aggressive servicers keep picking up market share, credit quality keeps softening and loan balances edge up,” the analysts said. “It adds up to declining quality for TBA MBS.” While those trends certainly aren’t new, Deutsche Bank said...

The trade group for private mortgage insurers this week said Fannie Mae and Freddie Mac programs that would allow sellers to obtain deeper MI coverage, up to 50 percent of the home’s value, could help lower guaranty fees charged by the two government-sponsored enterprises. U.S. Mortgage Insurers said greater front-end risk sharing almost doubles the amount of loss protection to the GSEs and allows them to reduce their committed capital for this risk by about 75 percent. As a result, the group noted...

Government-sponsored enterprises Fannie Mae and Freddie Mac will likely exceed their regulator-mandated cap on multifamily support in the aggregate, with Fannie already topping its cap and Freddie lagging a bit in comparison. Fannie already has exceeded its scorecard cap for 2015, with three months of the year yet to go. For the first three months of 2015, Fannie issued $32.2 billion in multifamily MBS, according to figures compiled by Inside MBS & ABS. In the third quarter, Fannie issued...