In the PIMCO deal, the loans have seasoned for an average of 14 months and 21.7% of borrowers are on forbearance/deferral plans.

The best the industry can hope for is a delay in the Sept. 1 implementation date, some believe...

Most of the gain was in agency mortgage securities, which rose $82.6 billion to $2.148 trillion...

In a nutshell, retail lenders gorged on refis: Roughly 62.8% of refi loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter came through the channel...

The senators said they find it distressing that such a large fee would be introduced “with no consultation with Congress and no notice to external stakeholders.”

A basic question: Will Treasury step in to change the trajectory of the new GSE refi fee? (The mainstream media has finally discovered the story.)

Gain-on-sale margins went through the roof in the second quarter for all involved...

Retail-originated refi production was particularly strong at the GSEs, climbing 160.5% from the first to the second quarter. By contrast, deliveries of retail refi loans rose 30.5% at Ginnie Mae, where total MBS issuance increased more modestly...

However, there’s a catch to the Ginnie number. Servicers of government product, especially depositories with a balance sheet, increasingly are buying delinquent FHA and VA loans out of MBS pools as a way to save money and possibly rehabilitate them down the road.