Government Agencies

Ƶapp. is an approved underwriter for Fannie Mae, Freddie Mac, Farmer Mac, the Federal Farm Credit Banks (FFCB) and the Federal Home Loan Banks (FHLB).

Our Agency Trading Desk is made up of professionals who have significant experience in both the primary and secondary markets. The team includes Ed Coach (LaSalle Bank, BNY/Mellon and MBS), Bill Larocco (Tucker Anthony, Dain Rauscher, RBC, BNY/Mellon and MBS) and Jim Powell (Freddie Mac, LaSalle Bank, Incapital, JVB and MBS).

Since becoming an approved underwriter in 2012, MBS has underwritten more than $30 billion in agency debt. We have also participated as a co-manager or selling group member in more than $152 billion of Benchmark Notes®, Reference Notes® and Global Bonds since September 2013. We underwrote our first benchmark for the FHLB Global Bond program in 2017.

In addition, MBS has daily access to Discount Note Window Rates from Fannie Mae (FNMA) and Freddie Mac (FHLMC) and is a dealer in the FFCB Bond and Designated Discount Note Selling Group.

With our direct access to the agencies and experience designing a wide variety of structures (callables, bullets, step-ups and floaters), we are able to cater to any reverse inquiries in a timely and efficient manner. MBS provides an active secondary market for both callables and bullets across the yield curve. We are currently ranked in the top three market makers for agency debt on the electronic platforms, by volume.

For a list of recent transactions, click here.