Arch MI: “The loss ratio for the 2020 first quarter reflected 12.0 points of losses which resulted from financial stress due to the COVID-19 global pandemic."

The $500 deferment fee is scheduled to take effect on July 1, pending approval from the Federal Housing Finance Agency.

Citadel currently is not originating but services a roughly $3.5 billion portfolio.

All of the mortgages in MFA’s planned MBS were originated by Citadel, leading to speculation that the deal was scrapped. However, a spokesperson for MFA said the REIT still plans to issue the security.

Information provided by FHA servicers regarding forbearance options is “inconsistent and dated,” according to the HUD watchdog.

Pandemic-related forbearance requests continued to rise in the week ending April 19, according to the latest MBA tally.

The nation’s 16th largest home lender settled the FHA charges, which included paying unlawful gifts and commissions to underwriters.

The HUD inspector general has outlined “red flags” homeowners should be aware of when considering relief offers related to COVID-19.

Fitch Ratings late last week put five GSE credit-risk deals on ratings watch. The outlook for 42 classes was lowered to outlook negative.

Rating services anticipate the sharp rise in the unemployment rate brought on by the pandemic will damage borrowers’ ability to repay loans.