FHA servicers are required to screen their portfolios by Aug. 24 for borrowers potentially eligible for the mod.

The bureau issued a final rule that nearly all residential servicers must adhere to when dealing with principal residences where borrowers are struggling with the financial impact of COVID-19.

The CFPB scaled back a proposed foreclosure moratorium and declined a request to exempt non-agency loans from the new standards.

Competition among the two dominant players in the wholesale channel continues to reduce the profit equation. However, margins from retail lending remain robust … for the moment.

Mortgage performance improved, thanks to a healing economy and federal stimulus. Still, delinquencies and forbearance rates remain high. (Includes data chart.)

The voluntary standards are in response to complaints from non-agency MBS investors regarding disclosure of loan performance amid the pandemic.

Legal analysts say the bureau’s across-the-board delay on foreclosure starts could face legal challenges. Meanwhile, consumer advocates call for more stringent requirements.

Many of the bank’s mortgage borrowers saw income increase during the pandemic, with boosts from stimulus checks and unemployment benefits.

Nonprime servicing portfolios fell by 0.7% in 4Q20 and 4.1% year-over-year. But Select Portfolio Servicing boosted its receivables during the year. (Includes data chart.)

The volume of jumbo servicing handled by 30 of the top firms in the sector declined by nearly 6% in 2020. The share of borrowers missing payments is increasing. (Includes data chart.)