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Inside The GSEs

September 6, 2019

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GSE MBS Issuance Rockets to Biggest Month in 6 Years

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

Treasury’s Housing Reform Plan to Privatize the GSEs

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

GSE LIHTC Funding Averts Affordable Housing Crisis

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

FHFA Caps Executive Pay at the GSEs

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

Former Freddie CEO Says GSEs May Need Less Capital

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.

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Two Views on the Patch: Adam Levitin, Redwood Trust

"The CFPB’s job is not to regulate market share in the secondary mortgage market,” says Adam Levitin. Read More

Will MBS Yield to Inverted Curve?

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

HFSC Member Duffy to Resign

Rep. Sean Duffy, a Tea Party Republican and a staunch supporter of Presi-dent Trump, has been a vocal advocate for GSE reform. Read More

GSE Roundup

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

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

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