Neither Fannie Mae nor Freddie Mac issued a traditional credit-risk sharing transaction in the fourth quarter.

Whatever happened to the sale of SPS?

Rising spreads brought credit-risk transfer issuance to a halt in the fourth quarter and more than halved reinsurance transactions. Still, combined Fannie and Freddie CRT deals hit a record $21.64 billion in 2022. (Includes data chart.)

Credit Suisse completed the first part of the sale of its securitized products group; tighter pricing for Fannie with latest CRT offering; SEC’s rating service report light on details; retrial in GSE shareholder case set for July; RMF’s planned securitization scuttled.

The industry believes a DTI-based LLPA will create quality-control issues for lenders and raise prices for minority and first-time homebuyers.

Patrick McHenry, R-NC, new chair of the House Financial Services Committee, is viewed as a consensus-maker. But will his politics make it difficult to find common ground with the White House and Senate?

Overall, Fannie/Freddie MBS issuance in January was down 73.1% from a year ago.

The Fannie official began his presentation with the top 10 defects discovered by his QC team...

In January, lenders delivered 73.1% fewer mortgages to the GSEs than a year ago, but the month-over-month drop was just 4.5% from December. (Includes two data charts.)

Uncertainty caused by regulations and the complexity of calculating income and debt make DTI a poor metric to use in pricing a loan without the risk of lenders having to eat a new fee.