The conventional secondary market caught up with the seasonal surge in home-buying activity during the third quarter, leading to a hefty 17.9 percent jump in the production of Fannie Mae and Freddie Mac mortgage-backed securities. The two government-sponsored enterprises issued $223.61 billion of single-family MBS during the recently completed third quarter, a new Inside Mortgage Finance analysis reveals. Although that was the strongest ... [Includes three data charts]
Since early July, Fannie Mae and Freddie Mac have seen the share price of their common stock rise roughly 35 percent on the over-the-counter market, turning these two government wards into some of the best short-term investments among all equities. Then again, there appears to be no real reason for the run-up in trading price, though observers speculate that a Republican National Committee resolution issued earlier in the year regarding the two might have something to do with it ...
Still, the deal world grinds forward. “Ten days ago, sales were dead, but interest is picking up again,” said Mark Garland, president of MountainView Servicing Group…