Like many companies in the sector, Capital Senior Living has been deeply impacted by the pandemic. The company posted a $215 million loss in the third quarter, $191 million of which it attributed to the transfer of these properties to Fannie.

According to the U.S. Census Bureau, 19.4% of Black borrowers missed or delayed their September mortgage payment. The University of Southern California’s Understanding America Study put the figure at just 5.9%.

Treasury Secretary Steven Mnuchin said he is “not going to do anything that jeopardizes taxpayers.” But his real concerns? How to adequately capitalize Fannie and Freddie first.

The FHFA wants the GSEs to hold liquid assets to cover 30 days of anticipated cash outflows, plus a $10 billion buffer. That’s similar to the liquidity coverage ratio employed by bank regulators.

Justice Breyer characterized the net worth sweep as the nationalization of the GSEs. The government and the court-appointed amicus curiae disagreed, describing it as a simple renegotiation of a contract.

The GSEs have consistently exceeded their affordable housing goals. Is it time to raise them?

Capital Senior Living posted a $215 million loss in the third quarter, most of which it attributed to the transfer of 18 facilities to Fannie Mae.

Section 4022, which covers forbearance under the CARES Act, does not include an explicit end date. According to the CSBS, this has led many to assume it ends on Dec. 31. The truth is less certain.

Going forward, mortgages will qualify for the QM safe harbor if the annual percentage rate on the loan doesn’t exceed the average prime offer rate by more than 150 bps.

Spreads between mortgage rates and interest paid on MBS have fallen to about 75 basis points. The long-term average is closer to 110 bps.