“Let’s be very clear,” Calabria said. “The CARES Act imposed unfunded costs on Fannie and Freddie,” adding that, by statute, the GSEs are required to recoup those costs via income.

As for competitive bids, that's a different matter entirely...

The pencil sharpening represents a 13.8% jump from the $3.4 trillion Fannie predicted just month ago, and 88.8% more than the $2.06 trillion in originations the GSE forecast in January, before the advent of the coronavirus pandemic.

The top three sellers to Fannie and Freddie in August: Quicken Loans, Wells Fargo and United Wholesale Mortgage.

On Friday, Black Knight issued its relief tally: 3.7 million mortgagors in forbearance as of Sept. 8, down 66,000 units for the week. The data analytics firm noted that 2 million forbearance  plans are set to expire this month.

The MSRs are top heavy with California product at 44%...

Mortgage credit supply in August fell to its lowest level in six year, driven by a reduction in supply from both conventional and government segments t, according to a recent tally by the Mortgage Bankers Association.

Fannie Mae, Freddie Mac and Ginnie Mae issued $321.83 billion of single-family MBS last month, according to an Inside MBS & ABS ranking and analysis.

MBA's Mike Fratantoni: “The share of Ginnie Mae loans in forbearance increased again ... as the current economic crisis continues to disproportionately impact borrowers with FHA and VA loans."

Fannie Mae, for one, believes the proposal could prompt a 20 bp increase in g-fees.