MBA President Bob Broeksmit argues that the new LLPA “flies in the face of the administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners.”

Extending the GSE patch until six months after the new QM rule goes into effect would give market participants adequate time to prepare, and minimize the number of loans impacted by the change.

The bright spot in the FHLBanks’ earnings report was net interest income, which climbed to $1.25 billion 2Q20, a 36.4% sequential increase, despite the fact that advances declined by almost 31%. (Includes data chart.)

Fannie Mae and Freddie Mac have dramatically increased the amount of debt they’ve issued this year due to the economic impact of the coronavirus. But the cost of their debt tells a different story.

The deadline, already extended once by the Federal Housing Finance Agency, is unlikely to get another extension.

Fannie Mae and Freddie Mac said the new guidance may impact the size and types of investments they can make.

Tenants must be informed that, even after the moratorium on evictions ends, the landlord must still give them at least a 30-day notice to vacate.

The offering followed close on the heels of three K-deals announced the previous week.

The improved financial performance of the GSEs largely reflects the impact of CECL. The provisions for losses that would have been made in 2Q20 under the old accounting standard were already accounted for by CECL, which was adopted in December. (Includes data chart.)

Urban Institute researchers estimate the 7% fee the GSEs charge to purchase loans that have gone into forbearance after closing squeezes 255,000 creditworthy borrowers out of the market.