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Inside The GSEs

February 14, 2020

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GSE Single-Family Business Volume Steady in January

GSE single-family MBS issuance fell 1.6% from December 2019 to January 2020, but production was double its volume of a year ago. (Includes two data charts.) Read More

Freddie Cuts Some Fat; Fannie to Follow?

As part of Freddie’s voluntary retirement program, 700 employees have taken a buyout. Most are expected to be gone by the end of March. Read More

Lawsuit Reveals FHLB-SF Scheme to Buy Freddie Mac

According to court filings, beginning in 2016, the FHLB-SF developed a proposal for the bank to purchase one of the GSEs. To assist in the process, the bank also engaged the services of McKinsey Consulting. Read More

Net Worth of GSEs Doubles in 4Q19

The hiatus in the net worth sweep added $12.53 billion to the GSEs’ combined net worth over the last six months of 2019, including fourth-quarter profit of $4.27 billion at Fannie and $2.45 billion at Freddie. (Includes data chart.) Read More

FHFA Names Houlihan Lokey Financial Advisor

In a contract worth up to $45 million over four years, the M&A specialist will help FHFA develop “a roadmap to responsibly end the conservatorships” of Fannie Mae and Freddie Mac. Read More

Dem Senators: Are the GSEs Ready for Climate Change?

Democratic senators ask Fannie and Freddie if they have attempted to model the risks associated with climate-related disasters, including floods, wildfires and extreme weather events. Read More

Fannie and Freddie Begin Move to SOFR

All applications for LIBOR-based single-family and multifamily ARMs must be dated Sept. 30 or earlier or they won’t be eligible for sale to the GSEs. Read More

PMI Advocates Dispute Don Layton on CRT

Industry advocates point out that, unlike other forms of credit-risk transfer, private mortgage insurance stands in front of all other losses. Read More

Massachusetts Couple Plead Guilty to Swindling Freddie

A Massachusetts couple pleaded guilty to mail fraud, identity theft and tax evasion in connection to a scheme to defraud Freddie Mac. Read More

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