Two prominent GSE multifamily lenders cut production in the fourth quarter as they adjusted to the new investment limits set for Fannie and Freddie. The new caps are unlikely to constrain GSE business in 2020.

MBS trading turned in a stellar performance in January but market watchers are nervous about stock valuations and interest rates.

Many analysts anticipated the implementation of CECL would balloon the loan loss reserves of the GSEs. Last week, though, both enterprises downplayed CECL’s potential impact on first-quarter earnings.

Merge Fannie and Freddie, says Mayor (Candidate) Bloomberg; Also: Amherst wants to buy Front Yard REIT.

For the first time, Freddie was able to charge a higher average g-fee for new single-family business during the fourth quarter of 2019. Pricing disparity was a key driver in the development of the uniform MBS.

Issuance of single-family MBS backed by newly originated loans rose 12.3% from the third to the fourth quarter, while primary-market production was up just 7.9%. (Includes data chart.)

Strike while the iron’s hot: Mortgage REITs are raising cash by selling additional shares of common. How long can the trend last?

The increase in agency MBS from December to January came from the Ginnie program, which has a slower securitization process than Fannie and Freddie. And some loans may have been held back to benefit from higher loan limits. (Includes two data charts.)

The principal change in the proposed FHFA rule is to treat Ginnie mortgages differently from those of Fannie Mae or Freddie Mac.

Hiring of a financial advisor marks a significant milestone toward ending the conservatorships of the GSEs, says FHFA Director Mark Calabria.