The situation at press time: Mnuchin said that a Fed facility was no longer warranted...

“Wait until you see next month’s PTAP draw,” suggested one official familiar with the program...

However, the question remains whether the bureau will announce significant changes to the current framework...

A FHFA spokesman told Inside Mortgage Finance the pricing approved by the agency is “fair and reasonable. He added: “We have heard these loans would sell for much lower prices (15-20% discounts) in private markets.”

The reaction from some trade group officials was swift. Scott Olson, Executive Director of the Community Home Lenders Association, called the new COVID-19-related guidelines “totally inadequate.”

Is the industry happy about today’s announcement? Some praised it but one veteran lobbyist quipped: “It’s better than nothing but it’s pretty thin gruel.”

Of course, early this spring, the FHFA, in trying to aid consumers economically impacted by the pandemic, requested that servicers provide forbearance.

Another day goes by, and more pleas to Uncle Sam to fix the MBS liquidity problem. What will it take?

Overall, mortgage citations accounted for only 8% of total gripes...