Fannie Mae, Freddie Mac and Ginnie Mae reported improvement in loan-performance rates in November. But early-payment defaults were up. (Includes data chart.)

Spreads between mortgage rates and interest paid on MBS have fallen to about 75 basis points. The long-term average is closer to 110 bps.

As the clock winds down on the Trump White House, the GSE regulator continues to pull levers. Just not the big one. Credit: Steve Mnuchin.

Freddie issued its first multifamily K-deal in which both the floating-rate bonds and the underlying mortgages are indexed to SOFR.

The FHFA’s capital requirements include relatively harsh treatment of credit-risk transfer transactions from Fannie and Freddie but that view could change under the Biden administration.

Wall Street’s mind has been put to ease regarding an expedited conservatorship exit for Fannie and Freddie but concerns remain.

A new White House and a new Treasury secretary means exactly what for Fannie and Freddie? We’re about to find out...

It’s not clear why Freddie’s multifamily profits in the third quarter were more than doubled that of its sister company. Fannie’s g-fee was higher and its portfolio larger while Freddie’s MBS issuance spiked in comparison.

The announcement comes just a week after Fannie reported a similar error. However, in Freddie’s case, the prepayments only impacted nine pools.

The two GSEs agree that a proposed capital rule would diminish the benefit of credit-risk transfers, but Freddie plans to stay in the market under the current regime. (Includes data chart.)