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June 16, 2017

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A Historic Shift? Ginnie Mae is Now No. 2 in MBS Outstanding. Should Fannie Worry?

It’s Ginnie Mae by a nose: $1.704 trillion in MBS to Freddie Mac’s $1.703 trillion… Read More

Trump’s Treasury Department Seeks Regulatory Changes to Spur Non-Agency MBS Market

Treasury said one problem with the current risk-retention rule is that it’s promulgated jointly by six different federal regulators. Read More

Meanwhile, Ginnie Mae is Still Without a Permanent President

Former Ginnie Mae president Ted Tozer stressed the importance of getting the post filled as soon as possible. “The way things are going, by yearend Ginnie will have $2 trillion of guarantees on its books,” he said. Read More

Fed Announces Plan to Cap Reinvestment of Cash Spewing from its Massive MBS Holdings

“By limiting the volume of securities that private investors will have to absorb as we reduce our holdings, the caps should guard against outsized moves in interest rates and other potential market strains,” said Fed Chairman Janet Yellen. Read More

What We’re Hearing: What’s Movement’s Owner Going to Do with a Bank? / A Portfolio? / Just Don’t Pull a Countrywide / Bruce Berkowitz Plans to Ride it Out / Castle & Cooke, Mid America and PRMG All in a Hiring Mode

The betting is that Bruce Berkowitz and Fairholme plan to ride out their GSE investment to the very end. Read More

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