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Inside The GSEs

September 20, 2019

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Calabria Says Fannie/Freddie Sweep May End as Soon as 3Q

If all goes to plan, Fannie Mae and Freddie Mac will retain most of their earnings beginning with the third quarter. Read More

Seller Buybacks Climb in 2Q, Gap Persists in GSE Volume

Mortgage lenders continued to repurchase significantly more Freddie loans than Fannie loans, although buyback activity still represents a tiny fraction of GSE business. Read More

FHFA Pulls the Plug on GSEs’ MSR Financing Pilots

A $1 billion line of credit might be small potatoes by GSE standards, but it’s likely to elicit whistles among private lenders. Read More

What Does the Fifth Circuit Win Mean for GSE Investors?

On the issue of FHFA’s constitutionality, the court ruled for the plaintiffs. But rather than invalidate the net worth sweep, the court struck the “for-cause” provision from HERA. Read More

California Continues to Rule the GSE Market

California remains the mother lode for Fannie Mae and Freddie Mac. In the first six months of 2019, the GSEs purchased $58.1 billion in loans from the Golden State. Read More

Comment Period Closes on QM ‘Patch’ Rule

Although the non-QM portion of the non-agency market accounted for less than $10 billion in 2018, it could absorb more than $50 billion in former patch loans if it continues its current annual growth rate. Read More

Lackluster Response to Treasury’s Housing Reform Plan

The issues have been argued over so long, and the views of key players are so well known, that the plan itself couldn’t help but disappoint. Read More

Deutsche Bank Cooperating in Bond Rigging Case

According to court filings, between 2009 and 2016, the trading desks at the defendant banks conspired to inflate prices. Read More

FHFA Lowers Multifamily Caps on Fannie and Freddie

The new cap structure will allow each firm to invest up to $100 billion in multifamily projects over the next five quarters. At least 37.5% of that investment must be for affordable housing. Read More

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