FHFA issued changes to RPL/NPL sales in a new fact sheet, addressing some concerns raised by critics of previous sale policies.

In M&A news, Ellington Financial has agreed to buy Great Ajax in all-stock deal.

“What you don’t want to have to do is sell those assets when rates are so much higher because you’re going to take a loss,” Teresa Bazemore, CEO of the Federal Home Loan Bank of San Francisco, said of bank holdings on MBS.

New rules on NPL/RPL sales appear to address Congressional criticism of these programs, but FHFA data may belie those complaints.

FHLB San Francisco CEO Teresa Bazemore argues that the system’s dual mandates of supporting housing and providing liquidity for FHLBank members are related.

A broad coalition of industry groups say FHFA’s current timeline is too short for the scale and complexity of the transition.

It got 14 votes from House Democrats, but the Republican-sponsored Middle-Class Borrower Protection Act is unlikely to make it to the Senate.

GSE shareholders tried to make the case that Ed DeMarco, the acting director of the Federal Housing Finance Agency at the time of the net worth sweep, was an extra-constitutional director because his three-year acting directorship lasted too long.

All House Republicans and 14 House Democrats voted to undo FHFA’s revision of GSE loan-level pricing adjustments. The bill would also require future changes to the grids to follow risk-based pricing.

The FHFA needs to slow its roll to new credit scores, a swath of stakeholder organizations argues.