The bright spot in the FHLBanks’ earnings report was net interest income, which climbed to $1.25 billion 2Q20, a 36.4% sequential increase, despite the fact that advances declined by almost 31%. (Includes data chart.)
A new 50-basis-point fee on GSE refis caught the mortgage industry off guard this week. A big deal or much ado about nothing? Either way, lenders are not happy.
Fannie so far has issued $122.23 billion in long-term notes in 2020. That’s almost six times more than in 2019 and more than it issued the past three years combined.
The HOPE Act seeks to create a liquidity facility for commercial MBS borrowers who weren’t eligible for PPP or MSLP. The bill suggests financial institutions originate Treasury-guaranteed preferred equity instruments to qualified borrowers.