GSE single-family MBS issuance fell 1.6% from December 2019 to January 2020, but production was double its volume of a year ago. (Includes two data charts.)
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According to court filings, beginning in 2016, the FHLB-SF developed a proposal for the bank to purchase one of the GSEs. To assist in the process, the bank also engaged the services of McKinsey Consulting.
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The hiatus in the net worth sweep added $12.53 billion to the GSEs’ combined net worth over the last six months of 2019, including fourth-quarter profit of $4.27 billion at Fannie and $2.45 billion at Freddie. (Includes data chart.)
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In a contract worth up to $45 million over four years, the M&A specialist will help FHFA develop “a roadmap to responsibly end the conservatorships” of Fannie Mae and Freddie Mac.
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Democratic senators ask Fannie and Freddie if they have attempted to model the risks associated with climate-related disasters, including floods, wildfires and extreme weather events.
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All applications for LIBOR-based single-family and multifamily ARMs must be dated Sept. 30 or earlier or they won’t be eligible for sale to the GSEs.
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Industry advocates point out that, unlike other forms of credit-risk transfer, private mortgage insurance stands in front of all other losses.
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