Designed to aid MBS issuers hurt by the pandemic, the Ginnie Mae PTAP has received high marks thus far. Details about usage could be released before the weekend starts.

Ginnie Mae came to the rescue of a handful of MBS issuers with its PTAP program. Meanwhile, Fannie/Freddie issuers needing cash because of the pandemic have some new options, but will they be used?

The OIG identified four areas where the FHFA will have to improve if it hopes to supervise the GSEs absent the powers of a conservator.

The coronavirus economic assistance package is signed, sealed and delivered but concerns remain over the ability of nonbanks to pay MBS holders in the event delinquencies spike over the short term.

A resumption in quantitative easing — at a pace that dwarfs asset purchases during the financial crisis — is just one of several Fed actions to keep credit markets functioning through the coronavirus crisis.

Bank of New York Mellon is no longer an approved MBS document custodian for Ginnie Mae.

Issuance of VA cash-out refis with high loan-to-value ratios could drop 50% this year due to pooling restrictions imposed by Ginnie in November. VA’s lower-LTV cash-out tiers are expected to pick up the slack.

The issue of allowing nonbanks into the FHLB System hasn’t gone away. A new RFI on the concept will undoubtedly ruffle some feathers.

Many analysts anticipated the implementation of CECL would balloon the loan loss reserves of the GSEs. Last week, though, both enterprises downplayed CECL’s potential impact on first-quarter earnings.

In efforts to move from LIBOR to SOFR, the GSEs informed market participants to expect new language on all single-family uniform adjustable-rate mortgage instruments that close on or after June 1.