GSEs

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

The Federal Housing Finance Agency is planning on finalizing its proposed capital requirements for the government-sponsored enterprises this summer, the agency's acting director said Wednesday.

The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.

Hugh Frater loses the "interim" title, taking full control of the government-sponsored enterprise as Congress begins debating (again) the future of Fannie as well as Freddie Mac.

At $230 million, GSMBST 2019-PJ1 is notably smaller than recent transactions from JPMorgan and Redwood Trust; borrowers also have less equity in their homes.

The Federal Housing Finance Agency in recent years has required Fannie Mae and Freddie Mac to contribute to the funds every March, but has yet to make a 2019 request. Housing groups see the delay as a troubling sign.

David Brickman will take the helm of the mortgage giant at a time of transformation in the mortgage market and housing finance policy.

The Senate Banking Committee will hold two hearings at the end of March on Chairman Mike Crapo’s most recent framework for housing finance reform.

Commercial and multifamily mortgage debt outstanding grew 6.8% in 2018, benefiting from strong employment numbers and strained inventory, according to the Mortgage Bankers Association.

In remarks to credit unions, the Senate Banking Committee Chairman said that fixing the government-sponsored enterprises and data security were priorities.