While Fannie and Freddie look to be reclaiming lost investor-property loan business, seller execution tactics haven’t changed much in recent months. Volume fell 14% from October. (Includes two data charts.)

Mike Gill was part of the team brought in by former FHFA Director Mark Calabria to prepare CSS to issue securities for potential competitors of Fannie and Freddie.

The Fed’s stimulus spending, which began in March 2020, is set to end by mid-summer.

Freddie captured a larger share of GSE sales from a number of top sellers in the third quarter, nearly matching Fannie in single-family MBS issuance. Fannie lost ground in the purchase-loan sector.

Federal Reserve Governor Michelle Bowman said the Fed’s asset purchases could end in mid-2022. The reason: The costs of quantitative easing may now outweigh the benefits.

Pooling loans from its Home Possible program into affordable housing MBS could be the next step in Freddie’s impact bond initiative.

Fannie gets rid of its RPL through whole loan sales, while Freddie prefers securitizations for its offerings.

Freddie’s refinance-based green MBS program leapfrogs past Fannie’s more mature program based on newly built homes. (Includes data chart.)

It doesn’t happen often (the last time was more than 15 years ago), but Freddie bested Fannie in single-family MBS issuance in August. Freddie saw big gains in multi-lender swap and guarantor business. (Includes two data charts.)

The new K-deals with all-cash collateral will be used to pre-fund K-deal A-M certificates.