A major influx of refinance business pushed Fannie and Freddie MBS issuance to $120.25 billion in August, their biggest monthly production since January 2013. Read More
Although the report notes that the administration’s preference is for legislative reform, the plan emphasizes that reform “should not and need not wait on Congress.” Read More
When Congress passed the Tax Cuts and Jobs Act in December 2017, one of the major concerns was the impact it would have on the LIHTC program. Read More
The latest FHFA directive is something of a mystery. In separate 8-Ks, both Fannie and Freddie point out that no employees currently receive a base salary of more than $600,000. Read More
The latest stress tests provide a window into the risk retained by the GSEs, and therefore, into how much capital they'll need to survive the next economic crash.
The bond market is upside down. Since Aug. 27, all Treasury notes with maturities of one year and lower have had greater yields than the 10-year. Read More
Low rates on Fannie debt may reflect a sagging world bond market, with some European bonds being issued at negative interest rates; to date, Freddie has sold $4 billion in reperforming loans through SLST deals. Read More