Calabria’s remarks were part of a broader outline summarizing the impact the crisis has had on mortgage markets and the actions the FHFA has taken in response.

“In fact,” said GSE regulator Mark Calabria, “if this goes on for more than two months, we’re going to be looking at stress for Fannie and Freddie"...

Calabria suggested the new version of the capital rule might not look so different from the version proposed under the previous director, Mel Watt.

Fannie and Freddie said residential borrowers are expected to contact their servicer to set up forbearance plan.

CHLA recommends that FHFA only apply the new rules to companies with servicing portfolios exceeding $10 billion.