Freddie has issued several securities backed by re-performing loans during the pandemic. However: Are these loans still protected by the FHFA’s moratorium on foreclosures?
Fannie and Freddie both reported declines in the most severe category of delinquency, but Ginnie's rate was slightly higher in October. (Includes data chart.)
Various announcements by Ginnie, FHFA and the GSEs helped investors in MSRs get more comfortable in recent months. Meanwhile, use of Ginnie’s PTAP financing option remains minimal.
While Fannie began accepting single-family SOFR-indexed ARMs in Au-gust, it stopped taking LIBOR-indexed mortgages at the end of September. By the end of the year, the enterprise will no longer issue LIBOR-linked MBS.
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 majority of Freddie Mae’s forborne multifamily loans were in small-balance loan pools. Just 251 of them loans were in the company’s signature K-deals.
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.
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