Fannie and Freddie reported strong gains in net income during the third quarter, and the ongoing mortgage-market boom pumped up their retained mortgage holdings. (Includes data chart.)
The nation’s two largest MBS-investing REITs reported higher-than-expected earnings per share for the third quarter. Annaly even declared a quarterly common dividend of $0.22 per unit.
FHFA Director Mark Calabria hopes to finalize the GSE capital rule before yearend. But the proposal is so controversial that many industry watchers said it most likely won’t survive a change in administration.
Production levels surged for agency 1-4-family MBS, non-mortgage ABS and commercial MBS from the second to the third quarter. Nonbanks continued to dominate the agency market. Includes three data charts.)
Nonbanks in the process of making their public debuts note that the refi boom (probably) won’t last forever, and they could eventually face financial difficulties making servicing-advance payments for loans in forbearance.
Recent uncertainty surrounding equities drove investors into bonds, especially agency MBS. One result: The average daily trading volume in agency product climbed to a multi-month high in August.
The controversial refi-related LLPA from Fannie Mae and Freddie Mac has been delayed until later in the year. Might it be killed outright? (Lenders can only hope.)
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