At the other end of the spectrum, deliveries of refi loans with credit scores of 740 or higher fell 20.1% from the first to the second quarter...

One thing is clear: The verdict was a blow to Fannie Mae and Freddie Mac common and junior preferred shareholders.

The real estate industry was especially concerned and mounted an organized response...

Vague and undefined language in the eligibility requirements of the GSEs make it difficult for lenders to determine the mortgage eligibility of projects that include units rented on a short-term basis.

The report accused her of fostering a "culture of witness intimidation” and “a pattern of staff abuse.” In particular, it criticized the IG for refusing to cooperate with investigators and shunning congressional oversight.

But there's a catch. Fannie and Freddie now say they will allow PMIs to issue dividends without prior approval as soon as the third quarter, provided their excess PMIERS capital levels are greater than 50%. As of the fourth quarter, the excess capital threshold falls to just 15%.

How many consumers will seek a modification due a COVID hardship remains to be seen. Forbearance readings continue to drop...

Then again, Fannie and Freddie don’t buy everything that’s eligible. In recent months, there has been a burst of non-agency MBS issuance backed by GSE-eligible loans...