Variation margins will reduce counterparty risk in to-be-announced MBS transactions by requiring buyers and sellers to post margins for any change in prices before settlement.

Freddie posted a huge 20% increase in single-family MBS issuance last month, fueled by big gains at its cash window. Fannie volume was up a more subdued 3% from March. (Includes two data charts.)

Fannie continues to cut the size of its retained mortgage portfolio.

Fannie and Freddie hope to repeat their success with green multifamily MBS on the single-family side of the business. They’re also expanding their ESG offerings into social and sustainable bonds.

Federal Reserve Bank of New York economists look for ways to improve the market-making capacity of prime dealers for agency MBS.

The GSEs will provide investors with new loan-level and security-level data beginning June.

Slumping purchase-mortgage business drove Fannie/Freddie MBS volume lower in the first quarter, but securitization of refinance loans remained robust. (Includes two data charts.)

The CSS board now has four GSE-appointed members and five independents. Fannie and Freddie warned that this new majority will have the final say on any matter during conservatorship and on a number of significant matters following conservatorship (if they ever exit).

The GSEs’ regulator heard testimony on the risk climate change poses to Fannie, Freddie and the broader housing market.

Although GSE single-family business volume declined from January to February, the market remained at historically high levels, especially for refinance transactions. (Includes two data charts.)