MBA President Bob Broeksmit argues that the new LLPA “flies in the face of the administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners.”

The deadline, already extended once by the Federal Housing Finance Agency, is unlikely to get another extension.

Hundreds of smaller GSE sellers retained more servicing in the second quarter than they usually do, setting the stage for increased bulk MSR trades when buyers get more confident. (Includes two data charts.)

In its S-1 filing, Quicken (not surprisingly) said it’s powerless to modify the rules that govern its relationship with the GSEs.

The panel this week heard testimony that servicers failed to inform borrowers of their right to forbearance, offered less assistance than required by law and provided inaccurate information on lump-sum repayments.

The MBA argues that FHLB advances would offer REITs a cheap alternative to repo financing. One way to offset the added risk posed by REITs would be to increase the haircuts on their collateral requirements.

In its annual report to Congress, the FHFA recommended legislation that will allow it “to examine the records, operations and facilities” of all Fannie/Freddie servicers.

To promote the fungibility of the uniform MBS, Fannie and Freddie will more closely align how they evaluate their seller/servicers.

The nonbank accounted for 7.7% of originations in the first quarter of 2020.

GSEs extend moratorium on foreclosures and evictions until Aug. 31.