Cart

Inside The GSEs

September 9, 2009

View Archived Issues

Battle Lines Form Over New Product Approval

Fannie Mae and Freddie Mac are lobbying their federal regulator to take a more relaxed posture on approving new GSE products and programs – but leading industry groups want the agency to get even tougher. This has been a perennial sticking point over the years, and Congress in 2008 took a shot at writing new procedures for the GSEs to seek approval for their new products and programs that... Read More

FHLB MBS Holdings Drop Again in 2Q09

The portfolios of troublesome non-agency mortgage-backed securities declined noticeably at every one of the 12 Federal Home Loan Banks during the second quarter, while as a group the Banks continued to increase their investments in the safer alternatives provided by Fannie Mae, Freddie Mac, and especially Ginnie Mae, according to the latest quarterly analysis by... [Includes one chart] Read More

Industry Eyes GSE Overhaul, But Politicos May Differ

The mortgage finance industry last week issued a thought-provoking proposal for the overhaul of Fannie Mae and Freddie Mac in a new world order for the secondary market. But that will hardly be the last word, as the Obama administration and Congressional leaders have yet to weigh in on any substantial level regarding the future of the GSEs. And when they do, it’s likely a dramatic splintering... Read More

GSEs Avert Delisting But Valuation Concerns Mount

It’s been quite some time since Wall Street went on a binge for GSE stock, but in the immediate aftermath of the second quarter earnings for Fannie and Freddie, a lot of day traders appeared to do just that. After languishing in junk-bond status for months, Fannie and Freddie stock prices took off after the companies reported results that weren’t as bad as many investors feared... Read More

Fannie, Freddie Outperform Ginnie on Delinquencies

The latest mortgage loan delinquency data reviewed by Amherst Securities Group indicate that Fannie Mae and Freddie Mac are seriously outperforming Ginnie Mae, suggesting there will be less of an impact on prepayment speeds for Fannie and Freddie loans from the Obama administration’s Home Affordable Modification Program than will be the case for Ginnie. The data also... Read More

Fannie’s Mortgage Portfolio Declines Once Again

Fannie Mae’s gross mortgage portfolio dropped again in July, with an ending balance of $779.45 billion, a compound annualized rate of decline of 18.2 percent – the fifth monthly drop this year, and the second biggest drop after the 19.2 percent drop-off seen in April.In fact, after taking into account net outstanding commitments to sell off $41.1 billion, the GSE’s gross mortgage portfolio end... Read More

Is Federal Support of GSE MBS, Debt About to Peak?

Uncle Sam appears to be on pace to reach its maximum target of providing some $1.25 trillion of support to the agency mortgage-backed securities market, but the growth may be slowing and there are other indications that the full support may not be needed or deployed after all. Through the end of August, the most recent purchase... [Includes one chart] Read More

News In Brief

Ronald Weissman to Chair FHLBank Office of Finance Board: Ronald Weissman, formerly a senior partner with Ernst & Young, has assumed the helm of the board of directors of the... FHLBank of Chicago Finds New Digs: The Federal Home Loan Bank of Chicago moved into a new office location for more economical accommodations at the end... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results