According to FHFA’s own performance and accountability reports, the number of employees at the agency grew from 609 in 2019 to 635 in 2020. More tellingly, FHFA has budgeted for an additional 113 employees in 2021.

Every single division of the FHFA is expected to see a spike in payroll in 2021. The biggest change will be in the enterprise regulation unit.

The Fed and commercial banks purchased a combined $1 trillion in agency MBS over the past 12 months, more than 145% of the net supply. (Includes data chart.)

The CFPB proposed rulemaking to delay mandatory compliance with the general qualified mortgage rule until Oct. 1, 2022.

None of these new securitizations are expected to include loans with temporary payment forbearance like that used for pandemic relief.

Treasury’s stake in the GSEs should be used to create a joint venture focused on affordable housing. Also, to ensure success, Fannie and Freddie should be converted into utilities, two industry pros recommend.

USMI criticized the increased use of appraisal waivers for refis with high-LTV ratios, which help determine g-fees and insurance premiums.

HUD’s Housing Trust Fund and Treasury’s Capital Magnet Fund will get a combined $1.09 billion, more than double their take in 2019.

If MBS returns go negative, that means lenders will have to hike rates to entice investors. Right? Consequences?

The Federal Reserve Bank of New York diversifies its roster of counterparties that support the purchase of agency CMBS.