The 10 bps is passed onto the borrower in the form of a higher note rate. Trade group officials argue that wealthy homeowners generally do not use GSE loans, so they're exempt from the fee.

Multiple lenders tell Inside Mortgage Finance that, in late March, the enterprises began rejecting loans that would have been easily approved in early March.

Nevertheless, rumors are circulating that the Biden administration is preparing to test the legal waters by having the FHA and VA extend their REO eviction moratoriums to the end of the year. These were also scheduled to end on Saturday. If that were to happen, most observers believe FHFA would follow suit.

The mortgage giant’s $3.6 billion profit for the second quarter benefited by as much as $1 billion in revenue from the controversial adverse market refinance fee.

Analysts say dollar rolls and spec pools still provide an opportunity for investors in the agency MBS market.

Rob Zimmer, head of external communications for CMLA, described it this way: "It’s a terrible policy idea, given that only the middle class pays it. Wealthy households paying cash for homes or using jumbo mortgages won’t pay a dime."

It was a challenging quarter for servicing marks, though the industry has seen worse...

If mortgage lenders thought g-fees might decline this fall, they may be gravely disappointed. Meanwhile, the adverse market refi fee clearly boosted Freddie Mac’s 2Q21 results.

Lenders argue that Thompson should focus on reversing unpopular policies initiated when Mark Calabria was FHFA director. They point to unvetted credit requirements and the product caps included in the PSPAs.

As rents and absorption rates rise, apartment sales and mortgage originations head north.