Fannie Maes delay in releasing its 2012 earnings underscores the sharp turnaround in the con-servatorships of the two government-sponsored enterprises, which lately have begun spewing earnings like the good old days.Freddie Mac, which managed to get its reporting done on time, recorded a whopping $16.0 bil-lion in net income last year, and theres widespread speculation that Fannie Mae will beat that mark with room to spare.
Look for Fannie Mae and Freddie Mac to continue to increase their guaranty fees, but the current level of g-fees is approaching striking distance of the threshold expected in a competitive private market, the head of the Federal Housing Finance Agency told lawmakers this week.Testifying before the House Financial Services Committee, FHFA Acting Director Edward De-Marco said last years two 10 basis point g-fee increases raised the average fee to around 50 bps, double where they were when the GSEs were put in conservatorship in September 2008.
Improving loan quality is sparking a major shake-out in the due diligence sector. Can jumbo production and MBS save the day? Meanwhile, the supply of MBS expanded slightly in the fourth quarter.