The adoption of CECL left Fannie with a loss of $1.1 billion at the beginning of 2020; but it only cost Freddie $240 million.

Consumer criticisms regarding mortgages topped the list of coronavirus-related complaints filed with the CFPB in April.

A 91% drop in GSE earnings during 1Q has raised concerns about their second-quarter performance and exit from conservatorship.

The CFPB will use supervisory feedback, rather than enforcement actions, to identify compliance issues in MSR transfers during the pandemic.

The GSEs reportedly are in the hunt to hire special servicers to handle COVID-19-related forbearance claims. The reason: Some nonbanks may be living on borrowed time.

Mortgage bankers have been clamoring for liquidity help from the FHFA. This week, the agency delivered on the issue of the GSEs buying COVID-19-related forbearance loans, but then lenders read the fine print.

Regulators have acknowledged that the lack of legal clarity and the speedy implementation of the new forbearance requirements may set the stage for exploitation by unscrupulous or ill-informed servicers.

Temporary prohibitions imposed by Pennsylvania could shutdown mortgage originations, the MBA warned. Meanwhile, the trade group noted that servicing standards set by Washington, DC, differ from federal ones.

The CFPB is likely to extend the qualified-mortgage patch, but the question remains whether it will make changes to the current QM framework.