Capital markets

The government-sponsored enterprise has already done twice as many of these deals as it did during all of 2021.

Former Wells Fargo executive Michael Heid is the new chairperson, while David Benson, currently president, also becomes interim chief executive.

Originators offered fewer high loan-to-value and lower credit-score products, but jumbo offerings increased for the 10th time in 12 months, the Mortgage Bankers Association said.

The two latest transactions follow in the wake of the government-sponsored enterprise’s first deal of the year and the release of a finalized capital rule aimed at facilitating broader risk-sharing.

The company claims its digital registry system is a faster, safer alternative to MERS databases

Company management believes it can still be successful in the securitization market despite widening spreads.

Executives speak on the uncertainty created by the Russia-Ukraine war and Federal Reserve announcements.

The portfolio is one of several particularly large, recent deals related to the cash-flows from mortgage payments, but it has an unusual composition.

"The quality of our new business is high. The pricing of that business does not reflect the capital requirements of our regulatory rule," CEO Hugh Frater said.

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.