Fannie and Freddie said borrowers can qualify for a reduction or suspension of mortgage payments for up to 12 months. During this time, homeowners will not incur late fees and foreclosure will be suspended.

“Let’s be very clear,” Calabria said. “The CARES Act imposed unfunded costs on Fannie and Freddie,” adding that, by statute, the GSEs are required to recoup those costs via income.

In 1Q20, REITs – slammed by margin calls – shed $120.21 billion of securitized product from their portfolios. At the midway point in 2020, the industry’s MBS holdings remained far below the fourth quarter.

RE/MAX said the cost is expected to have a “negligible” impact on the firm’s earnings for the third quarter...

The nation’s 16^th largest servicer also disclosed it will restore incentive pay that was voluntarily given up by CEO Glen Messina.

Several industry executives and officials from four state regulatory agencies attended the meeting on remote work flexibility.

Agency data suggest the purchase market started to recover a bit in the third quarter. (Includes four data charts.)

Consumer advocates believe the CFPB has made the complaint database less useful...