Despite a sharp rise in the fourth quarter, issuance of commercial MBS for the whole of 2018 declined 6 percent. Agency multifamily MBS continued to dominate the overall CMBS market. [Includes one data chart.]
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With Michael Bright at the helm, the Structured Finance Industry Group plans to focus on policy issues and on strengthening ties with key members of government and regulatory bodies.
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Some Democrats are concerned that FHFA nominee Mark Calabria isn’t the best person to chart the GSEs’ future course. A full Senate confirmation of Calabria could take several months, though.
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Fannie Mae and Freddie Mac are coming off strong years for their multifamily business and most observers say that success is likely to continue well into 2019.
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The average daily trading volume in agency MBS fell to $212.9 billion in December, one of the lowest readings of the year, according to figures compiled by the Securities Industry and Financial Markets Association.
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Commercial real estate collateralized loan obligations are a valuable financing tool, albeit with some risks, industry officials said at a conference sponsored by the CRE Finance Council in Miami last week.
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The Community Home Lenders Association has expressed concerns that Ginnie Mae is on a mission to reduce the number of MBS issuers and tighten credit standards — moves that would affect its core members and hurt its housing mission.
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An estimated $9.6 billion of Ginnie Mae securities backed by FHA-insured reverse mortgages were issued in 2018, down from $10.5 billion a year ago, according to New View Advisors.
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