Fannie Mae and Freddie Mac issued a combined $2.34 billion in CRT securities, excluding reinsurance deals, in the second quarter. That was down 18.0% from the first quarter.
Loose IT security controls could have made it possible for a malicious employee, or an external party with access to that employee's account, to gain full control of the FHFA network.
The non-agency securitization market for closed-end seconds has grown substantially in the past year as lenders look to expand their product offerings with refinance business limited.
Most of the increase in Freddie buybacks in the first quarter of this year came from loans that were securitized in 2023, which totaled $219.1 million and represented 65.8% of Freddie repurchases in early 2024.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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