And then in terms of just I'm not sure – and this is longer term, but the forbearance and the tool as it is with the GSEs, I actually think that's going to be a common occurrence around events.

Source: https://seekingalpha.com/article/4577374-essent-group-ltd-esnt-q4-2022-earnings-call-transcript?source=feed_all_articles

As for today, we can think of the GSEs as a stabilizing force - until they're not.

Source: https://seekingalpha.com/article/4593097-weekly-commentary-us-economy-slowing-kuroda-going?source=feed_all_articles

Much of the funding for GSEs comes from its own operations rather than government support, but, Cohn said, if mortgage rates spike and there is less revenue coming in to Freddie and Fannie, they might need that funding.

Source: https://krdo.com/money/cnn-business-consumer/2023/05/26/us-mortgage-giants-were-placed-on-credit-watch-heres-what-that-means-for-home-buyers/