FHLBank members continued to reduce their borrowings, from $806.94 billion in the first quarter to just $422.64 billion in the last three months of the year. (Includes two data charts.)

KBW analysts believe it will take 15 years for the two government-sponsored enterprises to meet FHFA’s capital requirement to exit conservatorship. KBW reduced its target price on Fannie and Freddie stocks to $1.00 each.

The GSEs’ regulator heard testimony on the risk climate change poses to Fannie, Freddie and the broader housing market.

Every single division of the FHFA is expected to see a spike in payroll in 2021. The biggest change will be in the enterprise regulation unit.

The Fed and commercial banks purchased a combined $1 trillion in agency MBS over the past 12 months, more than 145% of the net supply. (Includes data chart.)

The CFPB proposed rulemaking to delay mandatory compliance with the general qualified mortgage rule until Oct. 1, 2022.

None of these new securitizations are expected to include loans with temporary payment forbearance like that used for pandemic relief.

Treasury’s stake in the GSEs should be used to create a joint venture focused on affordable housing. Also, to ensure success, Fannie and Freddie should be converted into utilities, two industry pros recommend.

USMI criticized the increased use of appraisal waivers for refis with high-LTV ratios, which help determine g-fees and insurance premiums.

HUD’s Housing Trust Fund and Treasury’s Capital Magnet Fund will get a combined $1.09 billion, more than double their take in 2019.