The percentage of GSE multifamily investment in areas of concentrated poverty increased in 2022, both in dollar and percentage terms.

Although almost all of the cost of funding a loan through MBS is passed through to consumers, borrowers only see about 40% of the “cost” of a specified pool pay-up.

A look back at prior interest rate cuts by the Federal Reserve suggests that agency MBS outperform competing assets in that environment.

While FHFA didn’t provide details, lenders believe the agency wants the GSEs to coordinate their mortgage repurchase request policies.

Issuance in 2022 was helped by lingering loans from the refinance wave while mortgage originations were down sharply in 2023.

The price of preferred shares in Fannie Mae shot up to $4.57 a share in the wake of former President Trump’s victory in the Iowa caucuses.

One of these days a GSE CEO might rise up and legally challenge the conservatorships. But we're not there yet...

Despite an uptick in GSE CRT issuance in the fourth quarter, 2023 volume remained well below the level seen in 2022. (Includes data table.)

The Fed launched the Bank Term Funding Program amid the regional bank crisis in 2023 to help avoid fire sales of MBS and other assets. The program is set to end in March as scheduled.

As the Trump campaign gathers steam, investors seem to believe that means the GSEs are more likely to be released from conservatorship.