A federal judge in Delaware rejected the CFPB’s $19.1 million proposed consent decree with 15 student loan trusts because the law firm that signed on behalf of the defendants lacked authority.

The MBS liquidity crisis is over. Was it ever serious? We may never know and you can thank the Federal Reserve.

With Ginnie Mae forbearance requests now at 13% of outstandings, FHA has introduced a “temporary” policy to cover loans in progress.

The market for REITs that invest in agency MBS is looking a lot better than it was in April. Meanwhile, AG Mortgage Investment Trust reached a $5.0 million settlement with Royal Bank of Canada.

Arbor Realty Trust issued a $727.2 million non-agency multifamily MBS. For the most part, these deals are uncommon because the GSEs dominate the market.

The non-QM whole loan market appears to have turned the corner from its recent doldrums. Some bids are now close to par.

A secondary market is developing for COVID-19-related forbearance loans where the mortgage has already funded but the consumer has asked for relief from their monthly payments.

The issue presents a potential conflict in securitization transactions because lenders typically take a borrower’s word on income reporting, according to two Federal Reserve economists.

Investors in the ABS market are mostly staying on the sidelines waiting for the coronavirus volatility to play itself out. Meanwhile, some investors are focusing solely on AAA-rated assets.

Nonbank Ginnie Mae issuers increased their borrowings under the PTAP program in May but not significantly. Next up: FHA’s forbearance policy on loans in progress.