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Secondary markets

FHLB borrowing share stayed range-bound in 2023 for most

Politics and policy, Secondary markets /

Federal Home Loan Bank members’ borrowing as a share of total assets increased in stressed environments but the majority did not see excessive increases like Silvergate’s, the Government Accountability Office found. Processing Content Former warehouse lender-turned-crypto specialist, Silvergate Bank, was an outlier in increasing its ratio 33% just before the 2023 crisis which led to […]

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Fannie Mae ups mortgage originations outlook

Fannie Mae, Mortgage applications, Mortgage Bankers Association, Originations, Secondary markets /

Fannie Mae revised its 2026 mortgage expectations marginally upward, with borrower interest in refinances, in particular, more likely to provide opportunities following the more muted activity of the past few years. Processing Content In its December housing outlook, the government-sponsored enterprise increased its forecasted volume for total originations next year to $2.37 trillion after a

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Private-label RMBS set for biggest year since crisis

LOAN PRODUCTS, Secondary markets /

Non-qualified mortgages have been driving private-label securities in recent years, representing nearly half of the market in 2025, and they and other PLS loan types are poised for further growth going into 2026. Processing Content This part of the residential mortgage-backed securities market has been on track to break a record in 2025 with a

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Senate confirms key leaders at Ginnie Mae, FHA

FHA, Ginnie Mae, Politics and policy, Secondary markets /

Senate confirmations have officially filled key leadership posts at Department of Housing and Urban Development entities, ending formal vacancies that have taken most of the year to fill. Processing Content Ginnie Mae President Joe Gormley and Federal Housing Administration Commissioner Frank Cassidy are industry veterans that have been serving in acting roles for much of

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Freddie Mac ending exchange offer used to create UMBS

Capital markets, Secondary markets, U.S. Fintech /

Freddie Mac has announced that it is closing the book on a temporary exchange offer used to make uniform trades of to-be-announced mortgage-backed securities possible several years ago. Processing Content The decision follows the reduction in the size of the market for older bonds that predated the arrival of UMBS in 2019. Around $1.5 trillion

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California law hurts secondary mortgage market, lenders say

California law hurts secondary mortgage market, lenders say

Law and legal issues, Regulation and compliance, Secondary markets, Servicing /

California Attorney General Rob Bonta’s office countered a lawsuit from lenders this week, arguing a new zombie seconds law doesn’t bar certain foreclosures outright.Eric Lee/Bloomberg Lenders are raising a host of arguments to halt California’s new zombie seconds law, which they say will freeze the secondary mortgage market.  Processing Content The California Mortgage Association and

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Trump announces military ‘warrior dividend,’ housing reform

Housing markets, Politics and policy, Secondary markets /

President Donald Trump looked to reassure Americans concerned about the rising cost of living by announcing plans to award a special holiday payment to military service members and roll out new housing reforms in the new year. Processing Content Trump announced the plans Wednesday during a prime-time address from the White House, which he used

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Bessent: Fannie, Freddie offering hinges on MBS spreads

Capital markets, Secondary markets /

A government-sponsored enterprise stock offering appears to still be in the works with care being taken not to adversely influence mortgage-backed securities trading as momentum builds to use their portfolios to that end. Processing Content “It’s not off the table. We’re working on it very deliberately,” Treasury Secretary Scott Bessent told Fox Business News’ Maria

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Freddie Mac appoints Kenny Smith as latest CEO

Freddie Mac appoints Kenny Smith as latest CEO

Career moves, Freddie Mac, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

Kenny Smith, a former Deloitte Consulting vice chairman is the new CEO of Freddie Mac, the company announced. He starts his new position on Dec. 17. Processing Content Michael Hutchins, who occupied the seat twice on an interim basis, will remain as Freddie Mac’s president. Hutchins had replaced Diana Reid after she was ousted in

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Ginnie Mae aligns liquidation reporting with GSEs

Ginnie Mae aligns liquidation reporting with GSEs

Distressed, Ginnie Mae, Politics and policy, Secondary markets, Servicing /

Ginnie Mae announced its plans to change liquidation reporting requirements in a move that aligns its policies more closely with the government-sponsored enterprises and mortgage-market participants.  Processing Content The change serves to enhance operations and improve accuracy and timeliness of liquidation event data, which are used to help determine payments tied to Ginnie Mae’s mortgage-backed

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