Freddie Mac

However, leadership noted that 2021 was the second record year for new single-family mortgages and also discussed how the government sponsored-enterprise plans to further rebuild its capital.

Inflation data showing a 7.5% increase in consumer prices will likely lead to Federal Reserve moves that apply continued upward pressure.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.

New assistance for renters may help but past efforts, while necessary, failed to get relief to renters in an expedient way, said David Brickman, who is now the head of a new agency lending platform backed by Barings and Meridian Capital.

The company is still searching for someone to fill the roll on a full-time basis, but the $600,000 annual salary cap may limit the candidate pool.

Some applaud the agency's recent delay of the mandatory compliance date for a new Qualified Mortgage standard. Others say it leads to more uncertainty for lenders, opens the door to additional changes and enables some companies to loosen their underwriting.

The agency issued a proposal moving the compliance date for the Qualified Mortgage rule revamp to October 2022.

The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.

The company purchased $1.1 trillion of single-family mortgages and $83 billion of multifamily loans during 2020.

Investors were also reacting to the inauguration of Joe Biden and uncertainty over additional fiscal relief, Freddie Mac’s Chief Economist Sam Khater said.

The Biden administration could encourage the FHFA to increase the caps or restore exclusions for certain types of loans, which would boost overall volumes.

Despite mortgage rates expected to rise modestly in 2021, a bolstered Biden administration stimulus package and COVID-19 vaccination efforts bring promise for economic recovery.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.7-14

Mortgage rates, whose movements until now had not reflected gains in the benchmark 10-year Treasury yield, rose 14 basis points this week, according to Freddie Mac.

The agency's request for input will shape how mortgages underwritten by Fannie Mae and Freddie Mac handle appraisals and curb risk.

Mortgage rates yet again have dropped to a record low, even as the yield on the benchmark 10-year Treasury flirts with breaking back above the 1% mark, according to Freddie Mac.

The proposal would require the government-sponsored enterprises to craft resolution plans similar to regulations imposed on the largest U.S. banks.

Many have assumed the high court would rule that presidents can fire the Federal Housing Finance Agency director at will. But during oral arguments in a case challenging the agency’s structure, some justices suggested they could stop short of such a decision.

Weaker consumer spending data coming into the holiday season, as well as a resurgence of the COVID-19 spread, pushed mortgage rates to a new low, Freddie Mac said.