While Fannie and Freddie look to be reclaiming lost investor-property loan business, seller execution tactics haven’t changed much in recent months. Volume fell 14% from October. (Includes two data charts.)

Mike Gill was part of the team brought in by former FHFA Director Mark Calabria to prepare CSS to issue securities for potential competitors of Fannie and Freddie.

The two new faces on the CSS board are investment banker Dylan Glenn and securities industry veteran Lynette Kelly.

The former Nationwide CTO will manage the Common Securitization Platform.

The deemed-issuance ratio satisfies IRS guidelines for determining the amounts of Fannie and Freddie product contained in UMBS.

CSS has appointed Jina Hong as senior vice president and chief audit executive and Juanita Russell as senior vice president and chief financial officer.

To promote the fungibility of the uniform MBS, Fannie and Freddie will more closely align how they evaluate their seller/servicers.

The hiatus in the net worth sweep added $12.53 billion to the GSEs’ combined net worth over the last six months of 2019, including fourth-quarter profit of $4.27 billion at Fannie and $2.45 billion at Freddie. (Includes data chart.)

SIFMA said the Ginnie-like market structure proposed by FHFA isn’t appropriate for conventional MBS. Moreover, the plan doesn’t address the continued misalignment of MBS issued by Fannie and Freddie.