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Inside The GSEs

December 4, 2020

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Refis Propel GSEs to New MBS Records in November

Fannie and Freddie continued to grow their market share of 1-4 family originations, MBS issuance and mortgage servicing. (Includes two data charts.) Read More

Mnuchin Dampens Hope for an End to the GSE Conservatorships

Treasury Secretary Steven Mnuchin suggested in a Senate hearing that Fannie and Freddie may not have enough capital to exit conservatorship before Trump leaves office. Read More

Extending Moratoriums on Foreclosures a Costly Affair

The FHFA has directed the GSEs to extend moratoriums on single-family foreclosures and real estate-owned evictions. The move is likely to cost the two mortgage giants between $1.1 billion and $1.7 billion. Read More

No Surprise: Loan Limits Rise; Cui Bono?

After the 2019 increase, homebuyers with newly eligible loans had an average income twice that of buyers whose loans were still eligible under the 2018 limit. Read More

Last-Minute Brief Filed in Collins v. Mnuchin Case

The Fifth Circuit found FHFA’s structure unconstitutional but decided the remedy was to simply toss the structure and leave the net worth sweep standing. The Supreme Court will now grapple with the two issues. Read More

Senate Dems Push Calabria for More Affordable Refis

Though both Fannie and Freddie exceed FHFA’s benchmarks for low-income refis, low-income borrowers actually accounted for a smaller share of the companies’ refis than they did for the market as a whole. Read More

Fannie to Offer REMIC Election on Multifamily MBS

Investors will be able to elect a real estate mortgage investment option for Fannie’s multifamily MBS beginning Jan. 1. Read More

FSOC Hints at Its Role in the Final GSE Capital Rule

In September, the FSOC endorsed the FHFA’s capital rule, even urging the agency to use tougher, more bank-like standards. What the report didn’t say was how the council reached its conclusions. Read More

FHFA Announces 2021 Deemed-Issuance Ratio

The deemed-issuance ratio satisfies IRS guidelines for determining the amounts of Fannie and Freddie product contained in UMBS. Read More

Just In: FHFA’s Marzol is Retiring

Adolfo Marzol is one of the main architects of the final GSE capital rule. Read More

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