Fannie Mae and Freddie Mac issued $56.56 billion of single-family mortgage-backed securities in January, a modest 5.6 percent decline from the previous month, according to a new Inside The GSEs ranking and analysis. December, however, may have been an anomaly. Many mortgage originators reported delays in loan closings in October as the primary market adopted a significant change in mortgage disclosures and closing requirements under the so-called TRID rule. Those delays, ranging from a few days to a week or more, pushed some October closings into November. Given the normal lag between primary market origination and securitization – especially for correspondent originations – the TRID traffic jam may have accounted for the sharp...