Cash-strapped nonbank servicers were less likely than banks to help borrowers through pandemic-era mortgage relief, according to a new Federal Reserve report on the CARES Act forbearance program.

The Mortgage Bankers Association suggested FHA reinstate a mortgage lender’s option to document a borrower’s previous work history through a verbal verification of employment, among other recommendations.

Ted Tozer, former Ginnie Mae president, is calling for revisions to FHA policy that would encourage the adoption of assumable mortgages.

VA wants to know if its loss-mitigation options are flexible and adaptable enough for transitional times.

Ginnie Mae to ease seasoning requirements for reperforming loans, FHA proposes updating loan limits on its Title I manufactured home program, HUD proposes removing LIBOR for ARMs, and more news.

Activity at the GSEs is moving away from areas where the non-agency market could compete with Fannie Mae and Freddie Mac. Cash-out refi business could be the next category to take a hit as FHFA has directed the GSEs to increase upfront pricing. (Includes data chart.)

First Republic Bank isn’t increasing its interest rates for jumbo mortgages at the same pace that the Fed is increasing interest rates, leading to lower margins for the bank.

Annaly was the top issuer of non-agency MBS in the third quarter. The REIT had to retain more of its issuance than usual due to weak investor demand.

Redwood acquisitions of jumbo mortgages declined by more than 70% on a sequential basis in the third quarter. Officials at the REIT suggested that Redwood will continue to limit loan acquisitions until market dynamics improve.

Only one deal hit the market in the past two weeks and the issuance pipeline isn’t looking particularly strong.