Secondary markets

It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices Group say.

A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.

The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.

Stock prices jumped notably following the billionaire and legacy GSE investor's comment indicating Fannie and Freddie have been "stupidly cheap."

The government MBS guarantor ended a 15-day advance notice mandate for extensions on a filing deadline so those with a March 31 due date can still ask for one.

Lowering minimum standards and using a 2018 proposal as a basis for change may be the quickest path, according to Donald Layton, Freddie Mac's CEO from 2012 to 2019.

New questions about Fannie Mae and Freddie Mac's guarantee by experts who saw conservatorship start points to tensions in a stalled secondary offering.

Caution around the move is growing as focus has shifted to affordability, and current trading prices make near-term action unlikely, according to Wedbush.

The government-sponsored enterprises' oversight chief severed ties with the AI firm following President Trump's dispute with it over boundaries on military use.

MBS numbers at both soared in January, when Trump directed the enterprises to accumulate more bonds, but a decline in loans shrunk Freddie's total number.

MBS buying has become the near-term focus but a 2026 offering is still possible, Federal Housing Finance Agency official Bill Pulte told Fox Business.

While the Freddie Mac survey recorded a weekly decline, the benchmark 10-year Treasury yield had moved back up by 6 basis points around midday on Thursday.

Fannie Mae and Freddie Mac will add loan-level buydown data to MBS this spring, giving investors clearer insight into prepayment risk tied to temporary rate incentives.

Adjustments related to higher credit risk weights for new acquisitions and rate shifts offset increases in the government-sponsored enterprise's core earnings.

The government mortgage securitization guarantor flagged the goal back during the first Trump administration, warning then that it would be a long-term project.

Hot securitization sectors such as non-qualified mortgages and home equity are set to expand further amid market shifts this year, recent forecasts suggest.

Late last year, commercial bank holdings of mortgage paper reached the highest level since 2023 as these depositories are flush with deposits.

Keefe, Bruyette & Woods attributes Fannie Mae and Freddie Mac portfolio growth for the narrower spreads, but other reasons include lower volatility.

Fannie Mae sees growth in refinance activity pushing volumes upward, but flattening purchases will temper lender momentum, according to its December report.

A rise in issuance of nonqualified mortgages and seconds is in the forecast but home prices, credit and the GSEs may impact private-label bonds' trajectory.