Freddie posted the biggest monthly gains among the three agencies, although Ginnie was still the biggest issuer. Volume was up for both purchase and refinance business.
Data show that, in the wake of natural disasters, lenders are more likely to approve, originate and sell mortgages to the government-sponsored enterprises. This raises issues of moral hazard and adverse selection, according to economists.
Share prices of real estate investment trusts have suffered for years. But could a rebound be on the horizon, ushered in by merger-and-acquisition activity?
Numerous industry participants support FHFA developing a social bond designation for single-family MBS issuance from the GSEs. There are lingering concerns about the impact on the agency MBS market and borrower privacy.
The need for Ginnie Mae nonbank issuers to have ongoing access to capital is key to their success, and that informs the agency’s approach to policy and risk management, said Ginnie President Alanna McCargo.
With mortgage banking profits under pressure these days, sleep is still being lost over what might go wrong in the nonbank sector regarding Ginnie Mae obligations. One idea: a commercial paper backstop.
With the Fed’s exit from the market and the push for shorter durations at banks, industry participants ponder what price agency MBS will clear at and what it will cost homebuyers.
Fannie and Freddie reduced the fee for commingled collateral in Supers starting in April, and new issuance showed more diversity — but nothing like the levels before mid-2022. (Includes two data charts.)