With volumes down slightly for the quarter, depositories experienced a slight increase in their market share. But nonbanks still account for more than 68% of total GSE loan sales. (Includes two data charts.)
Fed Chair Jerome Powell told the Senate Banking Committee that the central bank could begin to reduce its portfolio of Treasuries and mortgage bonds later this year.
Multifamily caps have kept Fannie and Freddie from expanding their footprint in the apartment market, which grew by 25% in 2021 and is expected to expand by as much as 11% this year.
While Fannie and Freddie look to be reclaiming lost investor-property loan business, seller execution tactics haven’t changed much in recent months. Volume fell 14% from October. (Includes two data charts.)
Mike Gill was part of the team brought in by former FHFA Director Mark Calabria to prepare CSS to issue securities for potential competitors of Fannie and Freddie.
Freddie captured a larger share of GSE sales from a number of top sellers in the third quarter, nearly matching Fannie in single-family MBS issuance. Fannie lost ground in the purchase-loan sector.
RSS