Milbank has won a one-year, $3 million contract from the FHFA to provide legal services related to ending the conservatorships.

States with shelter-in-place orders accounted for 75% of the single-family home loans securitized by Fannie and Freddie last year, and 81% of jobless claims filed last week. (Includes data chart.)

If the coronavirus crisis goes on for more than six to eight weeks, FHFA Director Mark Calabria sees mortgage servicers under “a lot of stress.”

The Federal Housing Finance Agency this week temporarily allowed Fannie and Freddie to finance mortgage-backed securities.

One of the early casualties of the coronavirus outbreak is the much-anticipated, re-proposed capital rule for Fannie Mae and Freddie Mac.

Fannie and Freddie are providing “alternative flexibilities” to reduce the need for appraisers to inspect the interior of a home.

Federal Reserve operations this week swallowed up more than $39.8 billion in agency MBS, including about $31.7 billion in uniform MBS.

The GSEs have extended their forbearance programs to include multifamily borrowers and renters experiencing hardship due to COVID-19.

One mortgage REIT is already feeling the effects of the GSEs’ move to unwind an obscure credit-risk transfer program by yearend.

Borrowers are entitled to forbearance if unable to make their monthly mortgage payment due to the virus, the FHFA has reminded servicers.