Risk-sharing transactions from the government-sponsored enterprises are experiencing strong demand at issuance as well as in secondary trading. Officials at Fannie Mae and Freddie Mac note that they’re working on further improvements for the Connecticut Avenue Securities and Structured Agency Credit Risk programs.
Federal Housing Finance Agency Director Mel Watt has less than 11 months left in his term, but already the speculation has begun regarding who the Trump administration might pick to succeed him.
Ginnie Mae is exploring the possibility of loan-level credit risk sharing with the private sector on FHA-insured loans securitized through the agency, according to a top Ginnie Mae official.
Alternatives to traditional appraisals are attracting increasing interest among U.S. mortgage market participants, which would potentially weaken the credit quality of new residential MBS, according to rating service analysts.
Fannie Mae and Freddie Mac reduced their combined mortgage portfolios to $484.2 billion during the fourth quarter of 2017, according to an Inside MBS & ABS analysis.
Fannie Mae and Freddie Mac shareholders who are contesting the government’s net worth sweep may have few options left now that the Supreme Court of the United States has rejected their plea for appeal of lower court rulings that went against them.
Acting Ginnie Mae President Michael Bright: “If they don’t have money to make principal and interest payments to investors every 20th day of the month, then Ginnie MBS are in trouble.”
Ginnie Mae is considering revising its acknowledgement agreement with mortgage-backed securities issuers and third-party creditors to ensure that nonbank program participants have sufficient liquidity to make timely payments to investors.
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