During the COVID crisis Stevens served as an unofficial policy advisor to elected officials and regulators, making the case for interest rate cuts and liquidity measures.

The $500 million repo line, with Goldman Sachs acting as administrative agent and one of the lenders, replaces an earlier repo facility.

The repo market continues to be a source of liquidity for nonbanks with large mortgage servicing portfolios. One recent transaction involves a $500 million credit granted to loanDepot by Goldman Sachs and others.

The latest mortgage rumor in the nation’s capital: President Biden might turn to Fannie and Freddie in an attempt to push down borrowing rates, thus aiding his reelection chances.

Based on a new proposal, it would seem that banking regulators are paying closer attention to how much money federally insured depositories are lending to nonbanks.

Consultant Paul Hindman may have said it best: “Hiring, then firing is just too painful.” The good news is that thanks to lower rates and the spring homebuying season approaching, originators soon may be hiring again. The bad news: It won’t be huge.

Mr. Cooper ranks sixth in MSR ownership...

JPMorgan Chase is no longer the largest issuer of non-agency MBS.

Note: The government’s reading on the mortgage sector trails the national numbers by one month.

In general, JPM’s modus operandi is to take down large-sized portfolios north of $10 billion...