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.”

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

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.

K-deals totaling more than $2 billion hit market.

GSEs continue to wind down of their retained-mortgage portfolios.

In its S-1 filing, Quicken (not surprisingly) said it’s powerless to modify the rules that govern its relationship with the GSEs.

The steep fees to sell forbearance loans to the GSEs have led to tighter underwriting standards, which disproportionately impact borrowers of color, House Financial Services Committee Chair Maxine Waters said.

To promote the fungibility of the uniform MBS, Fannie and Freddie will more closely align how they evaluate their seller/servicers.

The nonbank accounted for 7.7% of originations in the first quarter of 2020.

Ronald McCord, the former president of First Mortgage, faces 24 counts of bank fraud, money laundering and making a false statement.