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.

Most of Freddie’s buyback claims end up being withdrawn by the GSE. A substantial share of Freddie’s loan purchases are underwritten through Fannie’s automated underwriting platform, but not all of the Desktop Underwriter extended services are available if the loan is sold to Freddie.

The CFPB proposed standards for qualified mortgages that don’t rely on a loan being eligible for sale to the government-sponsored enterprises.

Cowen Research: "The issue is what happens in August and September if the government permits expanded unemployment benefits to expire.”

The three agencies reported a total of 1.2 million single-family loans one payment past due, or 3.03% of their combined portfolio. Ginnie’s 4.78% 30-day delinquency rate was the highest, including a 5.68% rate for FHA loans.

In a statement, JPM CEO Jamie Dimon – no big fan of the mortgage industry – said he is “pleased” his company was selected as Freddie’s underwriting advisor.