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GSE Buybacks Declined in 2Q18, but Pipeline of Pending Demands Grew

September 4, 2018
John Bancroft
Only a trace amount – 0.5 percent – of unresolved buyback cases were related to loans purchased by the GSEs before 2009.
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Trades Working on a ‘Don’t Do Anything Rash’ GSE Letter to Treasury

September 4, 2018
Paul Muolo
There’s a growing concern about a potential reduction in GSE loan limits…
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Lower GSE-Eligible Share in Latest Prime Non-Agency MBS from Flagstar

August 31, 2018
Brandon Ivey
All of the loans in the deal were originated by Flagstar...
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Competition for Jumbos Squeezing Margins

August 31, 2018
Brandon Ivey
John Anzalone of Invesco Mortgage: “In particular, there are a few very aggressive large buyers out there that get a lot of attention and have caused quite a bit of spread compression…”
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What We’re Hearing: Fannie and Freddie, 10 Years Gone / Betting on Two Stocks for Retirement / MBA Weighs In / Housing is Elemental / Meanwhile, Back at the Ranch, An Industry Grows Concerned

August 31, 2018
Paul Muolo
Meanwhile, a dozen or so mortgage, housing and consumer groups are putting the final touches on a new letter to Treasury Secretary Steven Mnuchin...
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Short Takes: A ‘Significantly’ Less Liquid Secondary Mortgage Market? / In Five Years the GSE Loan Limit Would be Zero (for Example) / Origination Capacity Remains Elevated / Fannie Exec Joins RoundPoint

August 29, 2018
Brandon Ivey and Paul Muolo
Origination capacity in the mortgage industry remains “elevated,” according to a new report from PiperJaffray.
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Bank ABS Investment Rebounds in 2Q18

August 28, 2018
John Bancroft
In fact, bank ABS investment began to taper off at about the same time the supply of ABS outstanding began to grow again.
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CBO: U.S. Cost to Guarantee $12 Trillion in GSE MBS Over the Next 10 Years: $19 Billion

August 28, 2018
Paul Muolo
CBO projects that under current law, the share of new single-family mortgages guaranteed or held by Fannie and Freddie will slowly recede…
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Driven by Lower Expenses in 2Q, Nonbanks Stage a Turnaround in Origination Profits

August 28, 2018
Brandon Ivey
Personnel expenses averaged $5,195 per loan in the second quarter, down $704 from 1Q18…
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Short Takes: A New Origination Forecast from Freddie / Market Share Leaders in Retail and Correspondent / FHFA Seeks Comment on ‘Golden Parachutes’ / Arch’s Reinsurance Deal / Better Mortgage Hires Fed Economist

August 28, 2018
Brandon Ivey and Paul Muolo
But Wells Fargo dominated in the correspondent channel with a 20.9 percent market share...
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