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Inside The GSEs

January 14, 2022

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GSEs See Yet Another Year of Record MBS Issuance in 2021

With volumes down slightly for the quarter, depositories experienced a slight increase in their market share. But nonbanks still account for more than 68% of total GSE loan sales. (Includes two data charts.) Read More

Thompson Gives a Deft Performance at Confirmation Hearing

Biden’s FHFA nominee Sandra Thompson has made it clear that the agency can’t end the conservatorships without help from the Departments of Treasury and Justice and, most importantly, Congress itself. Read More

FHFA Hikes Fees on Certain Mortgage Loans

In April, Fannie and Freddie will begin charging sharply higher LLPAs on second-home and high-balance mortgages. The change is likely to expand non-agency securitizations at the expense of Fannie and Freddie. Read More

Fed Contemplates Runoff of Agency MBS

Fed Chair Jerome Powell told the Senate Banking Committee that the central bank could begin to reduce its portfolio of Treasuries and mortgage bonds later this year. Read More

FHFA Rejects GSEs’ DTS Plans, Seeks Revisions

The GSEs will have to find ways to better serve the rural housing, manufactured housing and affordable housing preservation markets. Read More

Freddie Taps New Leaders for Production and Sales

Freddie veterans Steve Lineberger and Meg McElgunn will run the Western and Central districts as well as the Northeastern and Southeastern districts. Read More

GSEs Won’t Benefit From Expected Growth in Multifamily Market

Multifamily caps have kept Fannie and Freddie from expanding their footprint in the apartment market, which grew by 25% in 2021 and is expected to expand by as much as 11% this year. Read More

Freddie Expands WI K-Deal Offerings

When-Issued certificates allow the enterprise to advance fund the guaranteed portions of its signature K-deals. That means Freddie can transfer market risk while pooling collateral for its MBS. Read More

Former Freddie CEO Believes Loan Limits Should Be Lower

Don Layton believes the new 2022 loan limits will cause home prices to increase even more, but the politicization of the housing-finance system makes it unlikely FHFA will be able to do anything about it. Read More

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