Total new issuance of securities backed by home loans, commercial mortgages and non-mortgage assets jumped 24% from 2018’s levels to $2.14 trillion last year, the biggest volume since 2007. (Includes three data charts.)
Trade groups are wary that any capital rule issued after May could be over-turned if Democrats win the White House and control of Congress in the next election.
The Mortgage Bankers Association recommended changes to Ginnie Mae’s proposed Digital Collateral Guidance to clarify requirements for accepting digital promissory notes and other documents.
GSE recap-and-release work will generate millions of dollars in fees for the lucky advisory firms. In a few weeks, the FHFA is expected to announce its counsel.
While the Fed was shrinking its agency MBS portfolio by $54.5 billion during the third quarter, commercial banks increased theirs by $56.2 billion and money managers added $23.8 billion. (Includes two data charts.)
Fannie and Freddie are still on course to be recapped and released but fist a few things must occur: FHFA needs to create capital standards and then there's the investor road shows.
November was a so-so month for MBS trading as investors dumped bonds and bought stocks. Still, lending is strong, which should bode well for the creation of new agency securities.
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