Freddie Mac saw a big fourth-quarter increase in Supers issuance that appeared to make up for lost ground earlier in the year. All three agencies posted declines in new REMIC production in the fourth quarter. (Includes two data charts.)

A new report outlines the risks CSS poses for the GSEs and the secondary mortgage market.

Even though the upfront fee Fannie and Freddie impose on commingled securities has been sharply reduced, some industry watchers argue that it has permanently damaged the market for Supers and REMICs.

FHFA is working on an alternative to the single counterparty fee, triggered by a controversial provision in the new capital rule, that requires the GSEs to hold capital against one another as counterparties.

Both Fannie Mae and Freddie Mac foreshadowed the new fee for commingled securities in their SEC filings. (Includes data chart.)

Fannie’s deemed-issuance ratio for 2022 dropped as the government-sponsored enterprise accounted for a lower share of deliveries to UMBS; MISMO is working to standardize the bid-wanted in competition dataset format.

Unpacking the transition from cash seller to guarantor. MCT experts and Freddie officials explore differences in pricing, servicing, and operations.

Will prepayment speeds on agency product continue to decline? No one knows for certain, but the UMBS 2.5 is waiting in the wings to be the new kid in town.

The new rule would cover the forward settlement exposure for the counterparties in TBA deals.

MBS trading is drifting lower in a rising rate environment, but the outlook remains cloudy as mortgage bankers wonder how many more months they have left before refis drain for good. Or will they?