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Fannie, Freddie, Ginnie Bonds Nearly Offset Dwindling Private Securitization

housingwire.comSept 23, 2012

By Jacob Gaffney

Nearly every single mortgage bond issued today comes from either Fannie Mae, Freddie Mac or Ginnie Mae.

Since there is very little private residential mortgage-backed securities issuance, the levels outstanding continue to drop.

It's finally to a point, according Howard Esaki, Global Head of Structured Finance Research at Standard & Poor's, where agency debt is eclipsing the once massive private market.

"The rise in agency RMBS outstanding almost offset the decline in the non-agency sector in Q2, according to Fed flow-of-funds data," Esaki said. "$10trn in home mortgage debt remained outstanding, down $53bn q/q, $254bn y/y, and off more than a $1.2tn from YE 2007. The share held by ABS issuers was off $46bn q/q, $180bn y/y, and $1.2tn from the 2007 peak. Agency MBS increased $40bn q/q, and $120bn y/y."


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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