“We didn’t have as much of a housing shock [even] as we had 20 million people laid off,” said Mark Calabria, director of the FHFA.

“CRT secondary markets have remained open throughout this crisis,” Freddie Mac's Mike Reynolds told Inside Mortgage Finance. “They were dramatically impacted by the COVID liquidity technical, as all markets were, but I think its important for your readers to know that trading still occurred."

Refinance activity continued to drive Fannie/Freddie MBS issuance, but purchase-mortgage activity has still not caught fire...

According to figures compiled by Inside Mortgage Finance, consumers owe roughly $11.168 trillion on their home mortgages, which (based on the MBA measurement) means $947.1 billion in residential debt is at risk.

According to Monday’s decision, the president can fire FHFA Director Mark Calabria at will – whether it’s the current president, or a potentially Joe Biden...

In her letter, Rep. Waters acknowledges the need to manage the risk associated with forbearance loans, bu recommends an alternative to the steep LLPAs leveled by FHA and FHFA. Instead, the congresswoman says those costs should be spread across the agencies’ broader single-family portfolios, resulting in “near-negligible costs on any individual loan.”

The supply of single-family MBS issued by Fannie Mae, Freddie Mac and Ginnie Mae grew another 1.4% in the first quarter, hitting $7.134 trillion.

The interim final rule goes into effect July 1...

Mark Garland, managing director of SitusAMC, Denver, agreed that bids of 3.0-times are doable today and are a welcome development after several weeks of inactivity, at least on the flow front.

The FHFA is pushing for legislation that will allow it “to examine the records, operations and facilities” of all Fannie/Freddie servicers – an expansion of its supervisory role over nonbanks.