Certain SFR operators have been criticized for gobbling up thousands of properties for corporate ownership, thus removing these units from the inventory of homes available for sale.
With the launch of the single security less than a year away, there are some uncertainties that Fannie Mae, Freddie Mac and the industry expect to have cleared up before making the switch next June. They range from ensuring fungibility between Fannie and Freddie securities, to creating more regulatory clarity, preparing third parties and determining how the Securities Industry and Financial Markets Association will consider the new security in the to-be-announced market....
Fannie Mae and Freddie Mac issued a combined $65.85 billion of single-family mortgage-backed securities last month, a 1.0 percent decline from their June total, according to an Inside The GSEs analysis of MBS data. Compared to the first seven months of 2017, the GSE single-family business was down 7.4 percent as of the end of July. Most of the month-to-month slump was at Freddie, where MBS production fell 8.9 percent from June. Fannie managed a 5.0 percent increase in July. Both GSEs are off about the same on a year-to-date basis. [Includes two data charts.]
Ginnie Mae officials described a two-pronged approach to assuring MBS investors that the agency is protecting their interests from the risk that issuers might fail to deliver principal and interest payments in a timely manner.
RSS