Fannie economists predict a shocking 25.3% drop in second-quarter GDP, including a 36.2% free-fall in residential fixed investment.

In an effort to support the industry during the COVID-19 pandemic, mandated use of the redesigned Uniform Residential Loan Application is now scheduled for March 1, 2021.

Over the last couple of weeks, the Federal Reserve has slowly tapered its MBS purchases. But even with healthy MBS prices, mortgage rates remain higher than formula dictates.

The list, which currently includes only four pools, will be updated weekly. It can be found on the DUS Disclose page of Fannie’s website.

An FHFA spokesperson said that, while Director Mark Calabria hasn’t issued a specific directive on providing credit, he has made it very clear that Fannie and Freddie must prioritize their own safety and soundness.

Analysts estimate that GSE forbearance programs will ultimately cost servicers between $80 billion and $150 billion in advances and escrow payments, bolstering the theory that only the Federal Reserve has the wherewithal to provide interim financing.

Former Freddie Mae CEO Don Layton suggests short- and long-term solutions for the liquidity problems faced by nonbank mortgage servicers.

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.”