If approved by the Senate he would replace Kathy Kraninger, a business-friendly Trump-appointed official who has led the agency since 2018.

For all of 2020, non-agency MBS issuance totaled $90.23 billion, down 20.0% from the year before...

What about Movement Mortgage as an IPO candidate?

Rather than ending the net worth sweep outright and agreeing to write off some of its preferred shares, Treasury is essentially simply allowing Fannie Mae and Freddie Mac to continue their practice of retaining earnings.

Wells Fargo: “Home lending revenue [was] down 21% from 3Q20 on lower servicing income and MSR valuation adjustments reflecting higher prepayment.”

The facility allows for originations of jumbo mortgages along with conforming loans.

The Golden State remained the largest source of insured agency business, accounting for 13.2% of the total market.

Even though there was no official announcement, that policy expired on December 31.

However, details remain a closely guarded secret...

Margin compression could come at an inopportune time for nonbanks seeking to go public...