Fannie Mae and Freddie Mac saw substantial declines in new single-family business during the first quarter of 2017, but the purchase-mortgage side showed some life in March, according to a new analysis and ranking by Inside Mortgage Finance. The two government-sponsored enterprises guaranteed $218.22 billion of single-family mortgage-backed securities during the first three months of the year. That was down 27.1 percent from the fourth quarter total of $299.25 billion – the biggest quarterly flow in GSE business since the second quarter of 2013. The refinance market was...[Includes three data tables]
Angel Oak competitor Citadel Servicing Corp., Irvine, CA, is planning to come to market with its first deal, a rated security that could top $160 million…
Fannie Mae and Freddie Mac executed various forms of credit-risk transfers last year that covered $548.0 billion of mortgages, a 30.4 percent increase over the amount covered by CRT activity in the previous year, according to a new report from the Federal Housing Finance Agency. The performance met the “scorecard” targets issued by their regulator. In total, the two government-sponsored enterprises transferred $17.9 billion of risk in 2016, most of it through their debt note programs. Fannie’s Connecticut Avenue Securities and Freddie’s Structured Agency Credit Risk programs accounted for 72.1 percent of risk transferred last year, the FHFA said. Reinsurance, the next biggest category, accounted...[Includes one data table]
Investors in Taiwan held $208.1 billion of agency MBS, non-agency MBS and ABS at the midway point of 2016, making it the largest overseas investor in the market, according to preliminary Treasury Department data. Taiwan increased its holdings of U.S. MBS and ABS by 9.6 percent from the midway point in 2015, a time period during which overall foreign investment was flat. Treasury releases annual estimates of U.S. MBS and ABS by individual foreign countries as of the middle of each year. The estimates include both government-related and private-sector investors domiciled in the country. Mainland China had been...[Includes one data table]
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