Fannie Mae, Freddie Mac and Ginnie Mae pumped out a respectable $152.3 billion in new single-family MBS in April, according to a new Inside MBS & ABS market analysis and ranking. Aprils issuance level was up 2.6 percent from March and reversed, at least temporarily, a two-month downturn in new production. The cyclical peak for the agency MBS market came back in November 2012, when a whopping $199.4 billion in new securities were issued. Although the market couldnt sustain...[Includes one data chart]
Fannie Mae is discouraging some of its newly minted seller/servicers from issuing MBS through swap transactions and is instead pushing them toward its cash window, according to lenders and advisors familiar with the issue. Fannie has increased its due diligence on lenders to ensure they are meeting, or are able to meet, the terms and conditions of an MBS issuance, said Tim Rood, managing partner in The Collingwood Group, a Washington-based advisory firm. Rood, a former Fannie executive, told...