Posted To: MBS Commentary

Yesterday's much-anticipated 10yr auction was extremely underwhelming. Combine that with fairly flat trading levels at the moment and the mortgage community is free to devote most of its focus to the newest hot topic of lender-specific hits on investment and 2nd homes. If you missed it yesterday, HERE is what initially prompted the drama. Or for those who didn't click the word "here" in the previous sentence: In the final days of the Trump administration, Treasury amended the GSEs stock repurchase agreements to limit non-owner and 2nd homes to 7% of Fannie and Freddie's portfolio The most important part of the link says that GSEs will monitor deliveries from investors and "working with" those that have excessive delivery volume. Translation: GSEs will warn lenders…(read more)

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Source: Mortgage News Daily