The shift from senior subordinate securitizations to predominantly fully guaranteed securitizations is expected to increase revenues for Freddie’s multifamily business.
Some large lenders are seeing their cash-window availability capped or being cut off altogether, according to trading advisors. Communications from the GSEs and FHFA on the matter are vague.
Changes to Common Securitization Solutions, including being renamed U.S. Financial Technology, appear to set the company up to serve additional secondary mortgage market participants.
Fannie Supers issuance was up sharply in the first quarter as the Fed finished restructuring its Fannie portfolio. Ginnie led the increase in agency REMIC production. (Includes two data tables.)
The Federal Reserve is allowing its MBS holdings to run off in a predictable manner; Ginnie provides more details on change to buydown policy; Cerberus affiliate issues securitization of closed-end second liens.
First-quarter earnings reports suggest the reduced size of Fannie Mae’s guarantee book of business may be impacting its market share vis a vis Freddie Mac.
loanDepot to issue its 11th mortgage warehouse securitization; Gray Media expands television securitization; Hooters bankruptcy could impact whole-business securitization.