Ginnie Mae came to the rescue of a handful of MBS issuers with its PTAP program. Meanwhile, Fannie/Freddie issuers needing cash because of the pandemic have some new options, but will they be used?

The OIG identified four areas where the FHFA will have to improve if it hopes to supervise the GSEs absent the powers of a conservator.

The coronavirus economic assistance package is signed, sealed and delivered but concerns remain over the ability of nonbanks to pay MBS holders in the event delinquencies spike over the short term.

A resumption in quantitative easing — at a pace that dwarfs asset purchases during the financial crisis — is just one of several Fed actions to keep credit markets functioning through the coronavirus crisis.

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.