Sheila Bair joins Fannie Mae after several years as a university executive and a board member for companies like Reuters, Host Hotels and the Industrial and Commercial Bank of China.
Both GSEs posted their highest monthly volume of single-family MBS issuance since January 2017. Purchase-mortgage and refinance business rose significantly.
The successful launch of the single security — more than $9.5 trillion in UMBS has traded through the end of July — may pave the way for broader housing-finance reform, according to researchers at the Urban Institute.
The trade group last week said it would not support releasing Fannie and Freddie from conservatorship unless Congress first creates an explicit gov-ernment guarantee for their mortgage-backed securities.
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