Federal forbearance on government backed mortgages is a panacea to deal with the economic fall-out caused by the novel coronavirus. But eventually there will be implications in the primary and secondary markets.

Bank of New York Mellon is no longer an approved MBS document custodian for Ginnie Mae.

Freddie has priced in excess of $8 billion in multifamily CRT so far in 2020 while Fannie has added more than $10 billion of MCIRT.

Fitch Ratings expects the SOFR to become the most commonly used index post-LIBOR for new residential mortgage assets.

Two prominent GSE multifamily lenders cut production in the fourth quarter as they adjusted to the new investment limits set for Fannie and Freddie. The new caps are unlikely to constrain GSE business in 2020.

Many analysts anticipated the implementation of CECL would balloon the loan loss reserves of the GSEs. Last week, though, both enterprises downplayed CECL’s potential impact on first-quarter earnings.

In efforts to move from LIBOR to SOFR, the GSEs informed market participants to expect new language on all single-family uniform adjustable-rate mortgage instruments that close on or after June 1.

Hiring of a financial advisor marks a significant milestone toward ending the conservatorships of the GSEs, says FHFA Director Mark Calabria.

The agency restructuring is aimed at preparing the FHFA for its role after Fannie Mae and Freddie Mac exit conservatorship.

December was a slow month for MBS trades but 2019, on average, was quite good. Meanwhile, just when you thought rates might start rising, a monkey wrench or two gets thrown into the works.