Nonbank liquidity remained a contentious issue this week with the FHFA shutting the Fannie/Freddie assistance window as the coronavirus continued to hammer the U.S. economy. Solutions? Maybe the Fed.

Don’t look now, but the agency MBS market started the year on a pace to rival the all-time record set back in 2003. It probably won’t last. (Includes two data charts.)

The support mortgage servicers receive during the coronavirus crisis may be used as a cudgel to enforce key changes.

The nonbank mortgage sector appeared to be whistling by the graveyard earlier this week because of liquidity concerns sparked by the pandemic. For now, crisis has been averted but the situation is fluid.

The FHFA director expects that close to one million GSE borrowers will inquire about forbearance during April, and two million by June.

The bill asks servicers of agency loans to offer forbearance to borrowers experiencing “hardship” but doesn’t say how to assess the impact.

Amid the chaos in the financial market, originations of jumbo mortgages at big banks continue while non-QM lenders are laying off staff.

The bulk of lenders operating in the non-QM market have suspended production due to a lack of demand in the secondary market. There are some signs that originations could resume within weeks.

The list of mortgage industry-related conferences called off due to concerns tied to the spread of the coronavirus is growing day by day.

Fannie Mae reported ”fair value losses” of $2.2 billion for 2019. That’s compared to a $1.1 billion gain in 2018, and a $1.2 billion loss in 2017. Volatility in the company’s income reflects its hedging operations.