When the going gets tough, the tough tighten their underwriting standards...

Of course, early this spring, the FHFA, in trying to aid consumers economically impacted by the pandemic, requested that servicers provide forbearance.

Another day goes by, and more pleas to Uncle Sam to fix the MBS liquidity problem. What will it take?

If a large nonbank fails, it might get Washington's attention...

It's starting to look a lot like the 1980s: Jumbo mortgages at 10%...