A new 50-basis-point fee on GSE refis caught the mortgage industry off guard this week. A big deal or much ado about nothing? Either way, lenders are not happy.

Former Ginnie President and current PennyMac Director Ted Tozer thinks so.

The Financial Stability Oversight Council wants to take a close look at the secondary mortgage market but isn’t letting on about its agenda. Maybe a “housing czar” will come out of this, some wonder.

There’s nothing wrong with buying delinquent mortgages out of Ginnie pools, but some issuers may have been getting too greedy during the pandemic.

Federal regulators have delayed their review of risk-retention requirements until next year. Also, most regulatory actions planned for MBS and ABS fall into the “long-term” category.

The CRT market is showing signs of post-pandemic recovery. But Freddie Mac’s former CEO believes the re-proposed capital rule for the GSEs could make the whole CRT program pointless.

Under the CFPB proposal, which aims to establish a level playing field between the GSEs and the non-agency market, most loans will still be QMs, but there might be fewer incentives to sell the loans to the GSEs.

In his semiannual report to Congress on Tuesday, Fed Chair Jerome Powell described the MBS market as "vital to the flow of credit in the economy."

Instead of larger, multi-issuer uniform MBS pools, FHFA wants seller/servicers to closely monitor the prepayment speeds of their broker/correspondent channels to ensure closer alignment of Fannie/Freddie pools.

To ensure the uniform MBS is a “continued success,” the FHFA has asked Fannie and Freddie to be watchful of “key patterns and measures.”