Fannie and Freddie both grew their portfolios of whole loans targeted for the securitization process while reducing the amount of their own MBS holdings. (Includes data chart.)

So far, performance of the multifamily businesses of Fannie Mae and Freddie Mac in 2021 resembles 2020. It’s not clear if these similarities will persist.

Thanks to heavy consumer refi demand, the support of the Fed and muscular production by nonbanks, the agency single-family market pushed overall MBS/ABS issuance to record levels in 2020. (Includes three data charts.)

Freddie’s green loans have accounted for a cumulative savings of 827 million gallons in water consumed, and more than 152 million kilo-BTUs in energy savings. In raw cash terms, that comes to more than $11 million in savings per (multifamily) loan.

Freddie issued its first multifamily K-deal in which both the floating-rate bonds and the underlying mortgages are indexed to SOFR.

Led by PFSI and Quicken, some of the nation’s largest nonbanks are entering the Ginnie EBO arena. More to come?

It’s not clear why Freddie’s multifamily profits in the third quarter were more than doubled that of its sister company. Fannie’s g-fee was higher and its portfolio larger while Freddie’s MBS issuance spiked in comparison.

The announcement comes just a week after Fannie reported a similar error. However, in Freddie’s case, the prepayments only impacted nine pools.

While securitization of broadly syndicated loans gained momentum in the third quarter, CLO issuance backed by refinancing and commercial real estate remained sluggish. (Includes data chart.)