The RNC document says the GOP “recognizes the sanctity of property rights in America,” which should warm the hearts of GSE common and junior preferred shareholders…

Fannie Mae and Freddie Mac saw a huge jump in deliveries of purchase-money mortgages during the third quarter, although the first-timer share of the market fell slightly. The two government-sponsored enterprises securitized $140.75 billion of purchase mortgages during the third quarter, an increase of 26.4 percent from the previous three-month period. Purchase loans accounted for 62.9 percent of loans sold into GSE mortgage-backed securities during ... [Includes two data charts]

Heavy purchase-mortgage business boosted Fannie Mae and Freddie Mac production of single-family mortgage-backed securities during the third quarter of 2017, according to a new Inside The GSEs analysis and ranking.The two GSEs issued a total of $223.61 billion of MBS during the three-month period ending in September, a solid 17.9 percent gain from the previous quarter. It was the strongest quarter of 2017, but production during the first nine months of the year remained 6.4 percent below the same period in 2016. Most of the gain came from the seasonal purchase-mortgage side of the business. Fannie and Freddie securitized $140.75 billion of loans used to acquire a new home, a huge 26.4 percent increase from the second quarter.

There was a sense of urgency in FHFA Director Mel Watt’s comments to Congress this week about reforming Fannie Mae and Freddie Mac. As the year winds down and the GSEs’ capital buffer becomes non-existent in January 2018, the FHFA head voiced his frustration about the lack of action from Congress on addressing the nine-year conservatorship. “These conservatorships have been unprecedented in scope, complexity and duration, especially when you consider that the enterprises support over $5 trillion in mortgage loan guarantees,” he said testifying before the House Financial Services Committee. House lawmakers fired off questions to Watt on everything from flood insurance to the qualified-mortgage rule and credit-risk transfers during this week’s hearing.

The Federal Housing Finance Agency Office of Inspector General said late last week that the FHFA is not doing a good job of monitoring the escalating costs associated with Fannie Mae’s new headquarters being constructed in downtown Washington, DC. This is the second time the agency watchdog has blasted the FHFA for not properly overseeing the build-out of the leased office space comprised of two office towers connected by multiple glass bridges. In a new audit, the IG questioned upgrades on the Class A office building that cost more than the typical $175 per rentable square foot.

Fannie Mae has partnered with the state housing finance agency in New Hampshire to pilot a program that allows buyers of manufactured homes access to 30-year conventional fixed-rate mortgages. The program kicked off last week and buyers must purchase in qualified resident-owned communities (ROC). The Home Preferred Manufactured Housing ROC loan, created in conjunction with the New Hampshire Community Loan Fund, gives both buyers and current ROC homeowners affordable financing and low-cost mortgage insurance options. New Hampshire was the perfect place to pilot the program because of the way it treats MH in ROCs, Patrick McCarthy, Fannie’s vice president of alternative real estate-owned dispositions told Inside The GSEs. “It treats them as real property whereas in....

Fannie Mae and Freddie Mac shareholders are feeling more confident they will prevail in lawsuits over the Treasury sweep as internal government documents related to a popular case continue to trickle out. Late this week, Federal Claims Court Judge Margaret Sweeney granted a motion to compel the disclosure of documents that were filed over the summer by attorneys in Fairholme Funds v. the United States. Investors, having grown weary of the drawn-out discovery process, filed a motion in August in hopes of speeding things up by forcing the government to stop what they perceive as delay tactics. Attorneys asked the Federal Claims Court to use the “quick peek” procedure for some documents dating back to May 2012.

Fannie Mae and Freddie Mac are accepting loans from borrowers who crowdfund their downpayments in a pilot program launched by CMG Financial this month. Geared especially toward millennials, HomeFundMe allows borrowers who take out a loan with the California-based company, to gather individual monetary gifts through their social media and email accounts. The platform is similar to the popular GoFundmMe donation-raising site. But, these funds are used specifically for a downpayment on a home. HomeFundMe can also be linked to things like graduation or wedding registries. HomeFundMe is also the first crowdfunding service that Fannie and Freddie have approved.

The Federal Home Loan Banks increased their support for affordable housing in 2016 by 15 percent, according to a new report released this month by the Federal Housing Finance Agency. The report highlights FHLBank low-income housing and community development activities from last year. In all, the FHLBanks helped close to 40,000 low or moderate-income households, including approximately 22,000 very low-income households, become homeowners. Under the program, FHLBank members apply to their bank for Affordable Housing Program funds. Those funds can then be utilized to buy, construct, or rehabilitate affordable housing. The funds can come in the form of either a grant or a subsidized interest rate advance from an FHLBank to its member.

On the heels of the Equifax data breach fiasco, the Federal Housing Finance Agency was deemed ineffective when it comes to supervising the GSEs on cybersecurity risks, according to a recent report from the agency’s Office of Inspector General.  In a previous report, the OIG asked the FHFA to examine policies about how Fannie Mae and Freddie Mac manage their cyber risks and address vulnerabilities. It noted that the GSEs store, process and transmit significant amounts…