S&P bumps its outlook to negative on three nonbanks, while maintaining a stable rating on two others. Some are key players in GNMAs.

Forbearance requests have been made on 3.74% of all outstanding first liens. That number is expected to grow.

Warehouse credit flows downhill: from the financier to the nonbank lender to the consumer. But with the pandemic stoking new economic fears, some providers are tightening their standards, like market leaders JPM and FH.

House Republicans are pushing Federal Reserve and Treasury to create a liquidity facility for mortgage servicers struggling to fund advances.

According to independent mortgage bankers, aggregators are adding credit overlays and refusing to buy loans in response to post-closing forbearance risk.

Production of purchase mortgages is likely to fall this year due to issues tied to the coronavirus.

The megabanks saw their first-quarter mortgage results get whipsawed by the coronavirus. Home lending was down and MSR marks were up.

A lack of consistent post-forbearance options may pose additional risks for the industry, particularly for loans owned by Fannie and Freddie.

Fair lending risks exist in servicers' handling of forbearance requests if certain protected classes are found to be disadvantaged.

Banks have received two-year relief from the full impact of the new current expected credit losses accounting standard as they cope with broader impact of the coronavirus. Nonbanks are seeking similar relief.