New York-based Basis Multifamily Finance becomes the first minority/women-owned business enterprise in Fannie Mae’s Delegated Underwriter and Servicer Program.

Loan modification is easy when interest rates are low, but what does foreclosure mitigation look like when rates soar?

Credit Suisse settles legacy non-agency MBS lawsuit; Fannie and Freddie to publish aligned social disclosures for single-family MBS; bank trade groups seek change in FHFA’s capital treatment relating to access of FHLBs; Ginnie portal to re-open Oct. 25; aviation ABS investors in holding pattern on collateral in Russia.

Agency single-family MBS production continued to erode in the third quarter despite a modest pickup in purchase loans. Meanwhile, issuance fell sharply in the commercial MBS and ABS markets. (Includes three data charts.)

FINRA and the MSRB plan to cut the reporting time for TRACE-eligible trades from 15 minutes to just one.

Both the size and the composition of the portfolios of Fannie Mae and Freddie Mac have shifted as the mortgage market slows. (Includes data chart.)

Net interest income in the second quarter was up 28% year over year at Fannie, while investment gains were down 75% at Freddie.

FHFA is working on an alternative to the single counterparty fee, triggered by a controversial provision in the new capital rule, that requires the GSEs to hold capital against one another as counterparties.

Much like in other parts of the MBS and ABS markets, spreads are widening on CRT issuance from the GSEs, prompting some changes in activity at Fannie Mae and Freddie Mac.

Angel Oak Director Robert McDonough noted the difficulties in pricing climate risks into securities. However, once investors can more actively analyze risks, residential MBS loan pools are likely to change, he said.