FHFA quietly increased the cap on the GSEs’ holdings of agency MBS from $40 billion apiece to $225 billion. That’s the same as the cap on their entire retained mortgage portfolios.

Columbia University researchers dispute the conventional wisdom that says Fannie Mae and Freddie Mac dramatically overpay CRT investors.

President Trump effectively directed the GSEs to fill in the role that the Fed had been serving in terms of agency MBS investments. The stimulus could be short lived, with the purchases expected to wrap up by June.