Issuance of agency single-family MBS was up modestly in November, stemming a two-month slide in production, according to a new Inside MBS & ABS ranking and analysis.
Rep. Hensarling: “This means the government needs to be in the last-loss position, with multiple layers of private capital, as diversified as possible, stacked up before it.”
Ginnie Mae this week announced new guidelines to curb the churning of VA loans and high MBS prepayment speeds – the first in a series of measures developed by a joint Ginnie/VA task force to address the problem.
It appears that Congressional reform of the housing-finance system – and final resolution of Fan-nie Mae and Freddie Mac – is back on track with a key piece of good news for MBS investors: an ex-plicit federal guarantee on conventional product looks likely.
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