Calabria’s remarks were part of a broader outline summarizing the impact the crisis has had on mortgage markets and the actions the FHFA has taken in response.

“In fact,” said GSE regulator Mark Calabria, “if this goes on for more than two months, we’re going to be looking at stress for Fannie and Freddie"...

Mortgage guarantors and regulators are keenly aware of the financial disaster that could be in the making. Conference of State Bank Supervisors President John Ryan sent a letter to Federal Reserve chairman Jerome Powell and Treasury Secretary Steven Mnuchin encouraging the creation of a liquidity facility to support residential servicers.

Actions by the Fed to help the mortgage market haven't don't much for non-agency MBS. Issuance ground to a halt and a number of lenders suspended production.

Roughly $220.8 billion of VA loans were delivered into Ginnie mortgage-backed securities last year...

Two of the top originators of non-QMs suspended lending operations on Monday, citing complications from the coronavirus.

Increasingly, margin calls are becoming an issue for mortgage REITs...

Bottom line: The Fed will keep buying agency MBS as long as it has to...

In a time of crisis should Fannie and Freddie be allowed to hold more MBS? Hike the GSE loan limit too?

At yearend, commercial banks owned more MBS than any other investor cohort at $1.793 trillion. The Fed was second, but that's going to change...