Roughly $148 billion of single-family agency MBS were issued last month, down almost 3 percent from Aprils level. May was the slowest month for agency MBS issuance so far in 2013.
Testifying before a Senate panel earlier this year, HUD Secretary Shaun Donovan warned that sequestration would limit the FHAs ability to provide information and services in a wide range of areas.
By excluding from the points and fees calculation compensation paid by creditors and mortgage brokers to their employees, the bureau prevents some double counting.