The $13 million Milbank contract, which follows the agency’s February selection of Houlihan Lokey as its capital markets advisor, suggests the FHFA remains committed to recap-and-release.

The new “flexibilities” cover both originations and appraisals. On the origination front, Fannie and Freddie will reduce the acceptable age of income documentation on most loans to 60 days from 120...

A resumption in quantitative easing — at a pace that dwarfs asset purchases during the financial crisis — is just one of several Fed actions to keep credit markets functioning through the coronavirus crisis.