Fannie and Freddie both grew their portfolios of whole loans targeted for the securitization process while reducing the amount of their own MBS holdings. (Includes data chart.)
Correspondent and wholesale-broker production made bigger gains from the third to the fourth quarter, but retail was the runaway winner in 2020. (Includes six data charts.)
Fannie inked just $5.26 billion in new credit-risk deals in 2020, and that total included a $425.6 million Connecticut Avenue Securities transaction...
VA refinance activity was the key driver in the government-insured market last year, as production rose 168% from 2019. Freedom rode the refi train to become the top FHA/VA lender in the market.
CLO issuance surged in the fourth quarter, fed by growth in restructured deals and the BSL market. Palmer Square ranked as the top manager of new issuance. (Includes data chart.)
In late 2020, Fannie came back into credit-risk transfers with a bespoke deal with one of its largest nonbank sellers. Freddie continued full speed ahead with more traditional STACR issuance. (Includes data chart.)
The conventional-conforming market — most of which is sold to Fannie and Freddie — accounted for 70% of first-lien originations in 2020. (Includes two data charts.)
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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