Fannie and Freddie are struggling to keep their multifamily caps under control in a red-hot apartment market. Meanwhile, life insurers are providing stiff competition.
Harvard's Don Layton on creating more competition for Fannie and Freddie: “I have not encountered any knowledgeable people who think it could happen quickly."
The Wall Street trade group cautioned that releasing the GSEs from conservatorship without an explicit government guarantee will scare investors and reduce the liquidity in the TBA market.
Mortgage Grapevine: MSR auctions have been few and far between of late, but all that may soon change. Meanwhile, Stearns Lending has secured the cooperation of its largest bondholder, PIMCO, to reduce its debt load. Now, it's just a matter of time and working with the bankruptcy court.