Although delinquencies on commercial MBS rose for a fifth straight month during July, predictions of a bust have not developed and many analysts are starting to feel more comfortable with the sector, especially in regard to multifamily credits. According to figures compiled by Trepp, the overall delinquency rate on U.S. CMBS increased 16 basis points during the month to 4.76 percent. The percentage of loans considered seriously delinquent increased 19 bps to 4.67 percent. This compares...
A federal judge rejected efforts by the government to keep a new batch of official memos and other documents from being disclosed in the ongoing legal war over the terms of the conservatorships of Fannie Mae and Freddie Mac. U.S. Court of Federal Claims Judge Margaret Sweeney released a new set of documents that included a brief excerpt of former White House housing policy expert Jim Parrott’s deposition from January, a presentation from the Federal Housing Finance Agency in 2008 and several memos dating back to 2008 and 2012. Sweeney rejected...
Freddie Mac’s efforts to reduce holdings of nonprime mortgages and nonprime mortgage-backed securities are proceeding at a faster pace than efforts at Fannie Mae, according to a new analysis by Inside Nonconforming Markets. The government-sponsored enterprises had a combined $161.12 billion in nonprime holdings as of the end of the second quarter of 2016, down 6.3 percent from the first quarter and down 20.4 percent from the second ... [Includes one data chart]
According to figures compiled by Inside The GSEs, Fifth Third doesn’t even rank among Fannie’s 40 largest customers and sells almost 70 percent of his home mortgages to Freddie Mac, based on July data.
Earlier in the week, candidate Trump warmed the hearts of banking and financial services executives everywhere when he said he would propose a moratorium on all new financial regulations…
In the event of a severe economic crisis, Fannie Mae and Freddie Mac could need a bailout of up to $125.8 billion, according to a Federal Housing Finance Agency stress test released this week. The test of severely adverse scenarios, required by the Dodd-Frank Act for companies with total consolidated assets of more than $10 billion, took place in March and is based on Fannie and Freddie portfolios as of Dec. 31, 2015. The bailout would be needed on an incremental basis and would also depend on the treatment of the government-sponsored enterprises’ deferred tax assets. Under this hypothetical economic scenario, situations include...
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