The FHFA has decided not to have a chairman for Common Securitization Solutions. Instead, the unit will be governed by a four-person "board of managers."

The biggest chunk of GSE business comes from mortgages with high credit scores and LTV ratios below 80 percent.

When pressed further, Middleman noted that getting acquisitions approved in the Empire State can “take a long time”…

Seu pointed to the steady “brain drain” of talent from Fannie Mae and Freddie Mac...

What? Are piggy-back mortgages making a comeback?

An administrative solution is already possible within the Housing and Economic Recovery Act of 2008, which grants the FHFA authority to bring the GSEs out of conservatorship.

The Federal Reserve’s Open Market Committee brought the latest installment in its quantitative easing programs to a conclusion this week, but the central bank will continue to reinvest principal payments back into agency MBS. The FOMC also reaffirmed the current 0 to 0.25 percent target range for the federal funds rate. “The committee anticipates … that it likely will be appropriate to maintain the 0 to 0.25 percent target range for the federal funds rate for a considerable time following the end of its asset purchase program this month, especially if projected inflation continues to run below the committee’s 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored.” And as usual, the Fed left...

A total of $51.18 billion of commercial mortgages were securitized during the third quarter of 2014 as the sector reached a new post-crisis high in new issuance, according to a new market analysis by Inside MBS & ABS. Commercial mortgage securitization rose 38.4 percent from the second quarter and represented the biggest three-month period in new issuance since the third quarter of 2007. For the first nine months of 2014, commercial mortgage securitization totaled $119.76 billion, down 24.4 percent from the same period last year. New issuance was off on a year-to-date basis because of the slump in production during the first half of 2014. Both sides of the market posted...[Includes one data chart]

Fannie Mae and JPMorgan Chase announced this week they are partnering in a new risk-sharing vehicle that features recourse provided to the government-sponsored enterprise on nearly $1 billion of new Chase originations. Separately, Freddie Mac has priced two more Structured Agency Credit Risk Transactions. JPMorgan Madison Avenue Securities Trust 2014-1 will simulate the behavior of a $989 million pool of JPMorgan-originated mortgages delivered into Fannie-guaranteed MBS. While similar to Fannie’s Connecticut Avenue Securities program, there are...

An internal conflict within the Securities and Exchange Commission is reportedly holding up final resolution of Bank of America’s record $16.65 billion settlement with government agencies. The settlement, announced last August, is stalled due to a partisan dispute among the five SEC commissioners over granting a waiver on additional sanctions that would take hold when the settlement is entered into court. The sanctions, if enacted, could adversely affect...