The changes would reduce Fannie’s and Freddie’s capital requirements and increase incentives to issue CRT transactions.

The mortgage giant last week announced its first-ever cash tender offer for its signature CRT product — Structured Agency Credit Risk debt notes.

Fannie and Freddie roll out deals that include green bonds, affordable housing offerings, and plain vanilla multifamily MBS.

Craig Phillips, senior counselor to Treasury Secretary Steven Mnuchin, recounts the Trump administration’s difficulties in ending the net worth sweep and the conservatorships.

A recent report from the Congressional Research Service suggests that it may be difficult to simultaneously raise the capital requirements for the GSEs and shrink their footprint, and still expect them to attract equity investors.

Industry insiders argue over whether the credit-risk transfer programs are overpriced catastrophic insurance for the GSEs or a cheap form of capital.

Jason Griest has been with Freddie for the past eight years. Prior to that, he held capital markets or securitizations positions at Fannie Mae, Bank of America and JP Morgan.

Several of the regulatory and management measures undertaken to mitigate the impact of the pandemic are slowly being eased. Is that a sign markets are improving?

Out of the $3.158 trillion unpaid principal balance in Fannie’s population of outstanding MBS, $201.3 billion would be eligible for a refi under the new program.

Veteran stock analyst Richard Bove upgraded the common shares of Fannie and Freddie to “hold” from “sell.” Last week, analyst Bose George had downgraded the stocks to “underperform.”