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.

Eight Democratic senators have called upon the FHFA and the CFPB to do more than just share information to protect borrowers during the corona-virus crisis.

After Sept. 15, Fannie Mae and Freddie Mac will no longer accept LIBOR loan applications. Moreover, the FHFA and the GSEs expect all loan purchases linked to the London benchmark to cease by yearend.

If the FHFA’s assessment is correct, mortgage servicers can withstand a substantially deeper economic downturn than originally thought.