Despite growing calls to begin the painful process of ending quantitative easing — at least for agency MBS — the FOMC says it’s maintaining its liberal monetary policy for the foreseeable future.

The end of the QM patch — thanks to a maneuver by the FHFA and Treasury — could help the non-agency market compete with the GSEs.

A dispute between Two Harbors and its former external manager will continue in court, with a focus on intellectual property. The REIT’s chief investment officer also abruptly left at the end of the second quarter.

The White House responded quickly to SCOTUS’ Wednesday ruling that the FHFA director can be fired at will. Within hours, Mark Calabria was shown the door and Sandra Thompson was appointed acting chief.

Rates have been meandering of late but one data point is on the rise: MBS trading. Question: have “mREITs” peaked?

When one window closes, another opens. That seems to be the case when it comes to reducing purchase caps placed by the GSEs on investor loans. Lenders are not happy but investment bankers love it.

FICC, which provides clearing services for most to-be-announced trades, says its existing margin methodologies failed to provide adequate credit protection during the market turmoil last spring.

Freddie’s multifamily unit issues a social bond backed by hundreds of single-family loans that fund the development of community-based group homes.

REIT industry holdings of agency MBS have climbed 8% higher than they were when COVID forced many firms to shrink, but investment in non-agency MBS remains depressed. (Includes data chart.)

In an interview with IM&A, former Treasury official Craig Phillips says capitalize the GSEs and let them go.