GSEs

Fannie and Freddie's regulator says the companies must comply with the new Qualified Mortgage standard by the summer, while the Consumer Financial Protection Bureau has extended the deadline to 2022. The conflicting timetables have stoked uncertainty in the market.

Hedge accounting will align Fannie’s reporting with competitor Freddie Mac, and will address a mismatch between the recorded value of financial instruments used to offset interest-rate volatility on mortgages and the loans themselves.

Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.

The Consumer Financial Protection Bureau has moved ahead with an earlier proposal to postpone the full adoption of the qualified-mortgage ability-to-repay rule, citing a need to maximize borrowers' credit access.

The government sponsored enterprise’s latest forecast calls for a nearly $4 trillion year for 2021.

The diverse group of loans in the servicing rights portfolio offers a potentially attractive recapture opportunity and would be a sizable transaction for their era.

Deals, trends and research in structured finance and asset-backed securities for the week of March 26-April 1

The development bodes well for outcomes on distressed loans backed by major government-related mortgage investors Fannie Mae and Freddie Mac.

The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.

Relying on retained earnings alone, it would be until at least 2036, if not longer, before government control of Fannie Mae and Freddie Mae might end.