Even as the percentage of GSE high-DTI loans fell, an odd thing happened: The actual dollar volume of these assets surged.

GSE single-family MBS issuance fell 1.6% from December 2019 to January 2020, but production was double its volume of a year ago. (Includes two data charts.)

Democratic senators ask Fannie and Freddie if they have attempted to model the risks associated with climate-related disasters, including floods, wildfires and extreme weather events.

Industry advocates point out that, unlike other forms of credit-risk transfer, private mortgage insurance stands in front of all other losses.

Independent mortgage bankers became the largest source of new single-family loans for Fannie and Freddie MBS in 2019, while significantly expanding their share of the GSE servicing market. (Includes data chart.)

SIFMA said the Ginnie-like market structure proposed by FHFA isn’t appropriate for conventional MBS. Moreover, the plan doesn’t address the continued misalignment of MBS issued by Fannie and Freddie.

The latest multifamily transaction continues the enterprise’s move toward Secured Overnight Financing Rate-based bonds.

The severity of some of the proposals in FHFA’s request for information on PACE financing suggests the agency intends to take some drastic steps.