The Fed lifts asset cap imposed on Wells Fargo; bill to establish VA partial claims program introduced in Senate; mortgage applications slow.

The president’s plan to maintain the implicit guarantee of Fannie Mae and Freddie Mac MBS still leaves unanswered many questions that skeptics say are critical to the GSEs’ safe and sound exit from conservatorship.

Interest rates on mortgages are elevated, suppressing demand. Short periods of declines in interest rates have prompted surges in loan applications. The question remains: When will interest rates do down?

FHFA Director Bill Pulte plans to announce actions that will address the costs associated with credit scores. Mortgage trade groups are providing feedback, hoping to shape the effort.

The effort will start with new multifamily mortgages and could be expanded to single-family mortgages and to Freddie Mac.

The bank wants to be a force in warehouse finance. Last fall it hired industry veteran Donnie Martin to oversee the effort. The bank plans to finance nonbank mortgage companies by mid-summer.

The privately held Bayview reportedly has a “ton of capital” at its disposal, according to investment bankers.

Housing Secretary Scott Turner refuted the notion that the federal government would sell national park land for housing development.

Floods are the main driver of climate-related foreclosures, according to First Street. The firm said lenders consider climate as a risk factor.

FHFA Director Bill Pulte sees himself as an advocate for the housing market. He said FHFA is working to increase the number of homes for sale. Details were scant on the effort and on potential GSE shifts.