According to Monday’s decision, the president can fire FHFA Director Mark Calabria at will – whether it’s the current president, or a potentially Joe Biden...

“The agency may therefore continue to operate, but its director, in light of our decision, must be removable by the president at will,” according to the majority opinion, written by Chief Justice John Roberts.

The revival included first-time EC MBS issuers as well...

Timing is everything. The majority of the loans, 63.0%, went into forbearance status in April and many of these borrowers may have already made their May payment.

It appears the mortgage forbearance “winning streak” has ended, at least for now...

In order to nullify a rule using the Congressional Review Act, the resolution has to pass both houses of Congress before it goes to the president...

In her letter, Rep. Waters acknowledges the need to manage the risk associated with forbearance loans, bu recommends an alternative to the steep LLPAs leveled by FHA and FHFA. Instead, the congresswoman says those costs should be spread across the agencies’ broader single-family portfolios, resulting in “near-negligible costs on any individual loan.”

The supply of single-family MBS issued by Fannie Mae, Freddie Mac and Ginnie Mae grew another 1.4% in the first quarter, hitting $7.134 trillion.

And the good news? The company is once again originating (after suspending production in the spring) but only for Fannie Mae, Freddie Mac and FHA/VA products.

Bill Dallas of FoAM: “Most warehouse lenders are at capacity and already ‘bulged’ most of their companies. As a result, if you need additional capacity and you didn’t plan for it, there are no new warehouse players. You are dead in the water.”