Even more noteworthy: First Republic hasn’t issued any non-agency securities since the market meltdown of 2008.

FHA is sympathetic to the plight of its lenders during the coronavirus crisis but how far will it go on forbearance for loans in progress? No one knows, at least not yet.

New insurance written by the industry’s six active private MIs fell 13.8% from the fourth quarter, while combined FHA/VA production rose 6.2%.

One California-based loan broker who received notification of the rollout said he plans to try the program even though he hasn’t table-funded through UWM in a while.

PennyMac Financial Services said margins were helped by reduced competition due to tighter underwriting standards as some firms suspended lending activities altogether...