Urban Institute researchers estimate the 7% fee the GSEs charge to purchase loans that have gone into forbearance after closing squeezes 255,000 creditworthy borrowers out of the market.

Pointing to unemployment rates that reached 14.7% in April, and a 7.3% decline in consumer expenditures in March, FHFA is simply acknowledging the obvious: The U.S. economy has entered a recession of unprecedented depth and unknown duration.

The steep fees to sell forbearance loans to the GSEs have led to tighter underwriting standards, which disproportionately impact borrowers of color, House Financial Services Committee Chair Maxine Waters said.

Most of the concerns about the new regulation hinge on how much profit the GSEs can make under the bumped-up capital levels. Most industry observers appear to be on the side of “not enough.”

The final rule sets the goal for prospective mortgage purchases at 20% of each FHLBank’s Acquired Member Assets program.

Wells Fargo Securities analysts said if there is going to be a hike in g-fees, it’s likely to be instigated by FHFA Director Mark Calabria.

The Housing Trust Fund and the Capital Magnet Trust will receive $326.4 million and $175.8 million, respectively, for 2019.

Affordable housing advocates say a high concentration of ownership by private equity firms makes residents of manufactured home communities vulnerable to unsustainable increases in rent or maintenance fees.

Freddie’s return to LIHTC investment in 2018 has resulted in projects in underserved communities in 22 states plus Puerto Rico and Guam.

Treasury claims the GSEs’ unfair advantage is because of their capital treatment. Urban Institute researchers say it’s because of the government backstop of their credit risk.