Commercial real estate collateralized loan obligations are a valuable financing tool, albeit with some risks, industry officials said at a conference sponsored by the CRE Finance Council in Miami last week.
The average daily trading volume in agency MBS fell to $212.9 billion in December, one of the lowest readings of the year, according to figures compiled by the Securities Industry and Financial Markets Association.
Fannie Mae and Freddie Mac are coming off strong years for their multifamily business and most observers say that success is likely to continue well into 2019.
Some Democrats are concerned that FHFA nominee Mark Calabria isn’t the best person to chart the GSEs’ future course. A full Senate confirmation of Calabria could take several months, though.
The Federal Reserve will continue to unwind its massive $4 trillion portfolio — $2.2 trillion in Treasuries, $1.64 trillion in agency MBS, and agency debt. This, Federal Reserve Chair Jerome Powell told financier David Rubenstein in a public forum at the Economics Club of Washington last week. Left unsaid is what this will mean for the agency MBS market.
Ditech investors that control a large portion of the nonbank’s “Toggle Notes” have agreed not to force the troubled lender/servicer into bankruptcy — at least for now, according to a new 8-K filing with the Securities and Exchange Commission.
The federal government shutdown is affecting business operations of Ginnie Mae, forcing the government guarantor to scuttle its annual summit with issuers and delaying progress on “liquidity letters.”
Acting Ginnie Mae President Michael Bright handed in his resignation this week, creating yet another vacancy in the Department of Housing and Urban Development hierarchy, and sparking discussions on what his departure might mean for reform of Fannie Mae and Freddie Mac.
Several rating services have received gentle warnings from the Securities and Exchange Commission for failing to follow policies and procedures, according to the latest annual report from the federal regulator.
New mortgage- and asset-backed securitiza-tion production totaled $1.504 trillion in 2018, the lowest annual output in five years, an exclusive new analysis by Inside MBS & ABS reveals. [Includes three data charts.]
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