The latest transaction is an actual loss deal issued through a trust; previous Multifamily Structured Credit Risk deals were structured as fixed-severity deals issued as corporate debt.

In 2020, mortgage records were broken all over the industry. MBS trading, meanwhile, had its best year since 2010.

Freddie’s green loans have accounted for a cumulative savings of 827 million gallons in water consumed, and more than 152 million kilo-BTUs in energy savings. In raw cash terms, that comes to more than $11 million in savings per (multifamily) loan.

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...