The deadline for potential competitors to submit their proposals was Sept. 15. However, that was just the first of four phases in the selection process established last year by the FHFA. The enterprises expect the process to take at least another year to complete.

At DOR, formerly known as the Division of Conservatorship, Cave will supervise the conservatorships of Fannie Mae and Freddie Mac...

The calculus is straightforward: With that much capital tied up in equity, it’s difficult to see how the GSEs could generate adequate returns to attract investors.

Year-to-date issuance climbed to $2.468 trillion at the end of October and should top $3 trillion based on the current pace. As of this writing, there appears to be plenty of gas still left in the tank.

Bair, a native of Kansas, came to Washington under the wing of then-Senator Bob Dole in the early 1980s.

The limits would be higher for mortgages backed by 2-4 unit properties, as well as loans in designated high-cost markets.

Fannie’s whole-loan portfolio increased 2.8% during the quarter, while Freddie’s grew 3.8%...

Black Knight tracks daily performance data on over 23 million mortgages covering more than 60% of the market. MBA’s survey encompasses 38 million loans from roughly 50 servicers.

But the strong results are likely to cause some blowback. Come Dec. 1, their seller-servicers face a 50-basis point “adverse market” fee on most new refis. With Fannie and Freddie registering such strong profits — and with the forbearance picture continuing to improve — the rancor that lenders feel on the issue is likely to worsen.

At the same time, Fannie’s issuance of short-term debt nosedived, as the government-controlled mortgage giant took advantage of low interest rates...