Ex-NFL star sentenced to five years in prison for mortgage fraud

Ex-NFL star sentenced to five years in prison for mortgage fraud

Irving Fryar and his mother convicted of conspiring to steal $1.2M

Experian hacked: 15 million people’s credit data stolen in breach

Credit reporting agency becomes latest victim of data breach

Here's what today's job creation implosion means for housing and mortgage finance

Jobs crater, labor participation rate near 40-year low and zero wage growth

Fannie, Freddie Reach Record MBS Share During Fourth Quarter

Fannie Mae and Freddie Mac accounted for a record 76.1 percent of new mortgage-backed securities issuance in the fourth quarter of 2007, according to a report published Wednesday by Inside Mortgage Finance. The GSEs combined for 56.9 percent of all MBS issuances during 2007, up from 39.9 percent one year ago. IMF reports that the GSEs last enjoyed a dominant market position in MBS issuances in 2003, when the previous record of 70.4 percent was set. I'd expect you'll see that share number climb even further during the first quarter of this year, if recent events are any indication. A few traders I've spoken with have suggested to me that "zero liquidity" has returned to the MBS market outside of GSE-backed issues, something that likely does not bode well for the nascent 2007 fourth quarter earnings season. Disclosure: The author owned no positions in FNM or FRE when this post was originally published.

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