In the stock market, we trust. Right? Meanwhile: Ocwen to the rescue? (Too bad Ditech didn't survive.)

Those 21 states accounted for $919.3 billion of single-family business funneled through Fannie Mae, Freddie Mac and Ginnie Mae into mortgage-backed securities issued in 2019.

“In fact,” said GSE regulator Mark Calabria, “if this goes on for more than two months, we’re going to be looking at stress for Fannie and Freddie"...

Mortgage guarantors and regulators are keenly aware of the financial disaster that could be in the making. Conference of State Bank Supervisors President John Ryan sent a letter to Federal Reserve chairman Jerome Powell and Treasury Secretary Steven Mnuchin encouraging the creation of a liquidity facility to support residential servicers.

Actions by the Fed to help the mortgage market haven't don't much for non-agency MBS. Issuance ground to a halt and a number of lenders suspended production.

FHFA’s move regarding appraisals was somewhat expected...

Bottom line: The Fed will keep buying agency MBS as long as it has to...

In a time of crisis should Fannie and Freddie be allowed to hold more MBS? Hike the GSE loan limit too?

Calabria suggested the new version of the capital rule might not look so different from the version proposed under the previous director, Mel Watt.

The goal is to stop a tidal wave of housing-related financial damage that might potentially destroy the social fabric of the nation.