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Inside The GSEs

March 8, 2019

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Freddie’s MBS Business Rebounds in February

Freddie Mac increased its production of single-family mortgage-backed securities at a time when its two secondary market competitors saw significant declines in volume. [Includes two data charts.] Read More

SIFMA Finally Endorses Uniform MBS

The Securities Industry and Financial Markets Association finally approved the uniform mortgage-backed security for delivery in the crucial to-be-announced market. Read More

Calabria Vote May Take Longer Than Expected

The general consensus was that Mark Calabria would be easily confirmed as FHFA director. So it came as somewhat of a surprise when his nomination passed out of the committee last week on a 13- to-12, straight party-line vote. Read More

Rep. Luetkemeyer Flags Risks to GSEs from CECL

The Current Expected Credit Losses standard, a new accounting protocol expected to go into effect in 2020, could have an outsized impact on Fannie Mae and Freddie Mac, according to Rep. Blaine Luetkemeyer, a prominent Republican on the House Financial Services Committee. Read More

Watchdogs Ask IGs to Probe FHFA for Insider Trading

Last month, a pair of watchdog organizations asked the inspectors general of the Federal Housing Finance Agency and the Department of the Treasury to investigate whether media leaks by officials at FHFA or the Office of the Comptroller of the Currency were part of an insider trading scheme. Read More

Powell Sets a Floor for the Fed’s Balance Sheet

When the Federal Reserve has finally “normalized” its balance sheet, allowing much of the $4.25 trillion in Treasuries and agency securities that it acquired through quantitative easing to gradually run off, there will still be as much as $1 trillion on the ledger, according to Fed Chairman Jerome Powell’s testimony before the Senate Banking Committee last week. Read More

GSE Loans for Kushner Cos.?

Late last month, Bloomberg reported that Kushner Cos., the real estate investment firm owned by the family of President Trump’s son-in-law and senior advisor Jared Kushner, was in negotiations with Fannie Mae and Freddie Mac for as much a $1.15 billion in loans. Some facts, though, make it difficult to know if the story is accurate. Read More

GSE Roundup

Freddie updates seller guide for income assessment. Stevens joins ProxyPics. Read More

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