Since the beginning of quantitative tightening in June, the Federal Reserve has been able to shed less than 20% of the agency MBS it had planned by this date.
New York-based Basis Multifamily Finance becomes the first minority/women-owned business enterprise in Fannie Mae’s Delegated Underwriter and Servicer Program.
Credit Suisse settles legacy non-agency MBS lawsuit; Fannie and Freddie to publish aligned social disclosures for single-family MBS; bank trade groups seek change in FHFA’s capital treatment relating to access of FHLBs; Ginnie portal to re-open Oct. 25; aviation ABS investors in holding pattern on collateral in Russia.
Agency single-family MBS production continued to erode in the third quarter despite a modest pickup in purchase loans. Meanwhile, issuance fell sharply in the commercial MBS and ABS markets. (Includes three data charts.)
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.