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Volume 18 - Number 5

March 2, 2018

Downloads Available: GSE Market Share: 2006-4Q17

Downloads Available: Top GSE Sellers: February 2018

GSE MBS Production Declined in February, Footprint Fading

February was another uneven month in terms of single-family business at Fannie Mae and Freddie Mac. The two GSEs issued a total of $61.04 billion of single-family MBS last month, a 9.5 percent drop from January. A decline in February is not unusual; itís near the lull in the purchase-mortgage market and has fewer business days. But business levels at the two GSEs were not at all the same. Fannie MBS issuance was down 14.1 percent from January, while Freddie production was up 0.5 percent. Still, month-to-month variation in business flows are common in the GSE market. Fannie and Freddie are also in the process of implementing new capital regimes during the first quarter under the direction of the Federal Housing Finance Agency.

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With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

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