Fannie and Freddie combined to issue $266 billion of single-family MBS in October, the third monthly production record set this year. Many top sellers shifted a little more of their GSE business to Freddie. (Includes two data charts.)
Wells Fargo and Chase together accounted for more than half of all borrowers exiting forbearance in July, Wells Fargo Securities found in its deep dive into new, loan-level data on Fannie Mae’s Connecticut Avenue Securities.
Wells Fargo Securities predicts the delinquency rate for high quality Fannie collateral — mortgages with loan-to-value ratios between 60% and 97% — will reach 4.3% in October.
FHFA officers told the inspector general that they believed performing some of the required security assessments “was an inefficient use of agency resources.”
Freddie Mac continued to report significantly more repurchase activity in the first quarter of 2020 and the pipeline of unresolved claims was up from the end of 2019. (Includes two data charts.)
States with shelter-in-place orders accounted for 75% of the single-family home loans securitized by Fannie and Freddie last year, and 81% of jobless claims filed last week. (Includes data chart.)
Banks and thrifts held $482.5 billion of advances from the Federal Home Loan Bank system in the fourth quarter of 2019, a 3.3% sequential drop. (Includes data chart.)