On Feb. 10, Freddie Mac made an unexpected announcement that it would "purchase substantially all 120 days or more delinquent mortgage loans from the company's related fixed-rate and adjustable-rate (ARM) mortgage Participation Certificate (PC) securities."

The GSE said these purchases would be reflected in the factor report released on March 4. Later in the day, Fannie Mae made a similar announcement that its buyouts will begin in March - which will reflect in the April factor report - and take place over a few months' time.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.