But the financial windfall from the underwriting contracts where the two mortgage giants will offer new shares of common to the public should be considerably larger.

Calabria blamed the lack of housing stock in America on “the accumulation of burdensome laws and regulations…”

Fannie and Freddie are poised to bring the bacon home in regard to fourth quarter earnings. Any wild cards here? Probably not.

The office market, which accounted for 26.2% of nonagency CMBS collateral last year, posted a 44.7% increase from 2018.

Many support raising the DTI threshold and incorporating compensating factors, but others recommend full elimination of the current standards.

Then again, not all banks are pulling back from agency servicing…

No other mortgage stocks came close but there were strong valuation gains from PennyMac Financial Services, up 60% for the year, and in the mortgage insurance sector.

Only two banks ranked among the top agency sellers last year: Wells Fargo and JPMorgan Chase.

Industry observers believe that could translate into a delay of six to 18 months.