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Reverse Mortgage Market Holding Up During Pandemic

May 14, 2020
Yemeng Yang
Applications for reverse mortgages shot up during the early days of the pandemic as seniors sought alternative sources of cash.
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Grapevine: The 2.5% Conventional FRM is Here / FHFA’s New Deferral Option

May 14, 2020
Paul Muolo and Dennis Hollier

UWM has rolled out an ambitious new program to fund a ton of conventional FRMs at 2.5%. Meanwhile, Fannie/Freddie borrowers have a new COVID-19 payment deferral option.


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Freddie Accelerates Payments to Small and Diverse Contractors

May 8, 2020
Dennis Hollier
Small and women/minority-owned businesses servicing Freddie will receive payment on their invoices at least 20 days earlier than stipulated.
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Mortgages Top the List of COVID-19-Related Criticisms

May 8, 2020
Yemeng Yang
Consumer criticisms regarding mortgages topped the list of coronavirus-related complaints filed with the CFPB in April.
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Signs of Life in Bulk MSR Sales as Tire Kickers Return

May 7, 2020
Paul Muolo
MSR investors are looking at new offerings in the bulk market but mostly on a negotiated basis. Flow deals are dead but that could change.
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FHFA Clarifies: Impac’s MSR Sale Was Not Forced

May 7, 2020
Paul Muolo
Impac Mortgage Holdings is about to unload what’s left of its MSR assets. Meaning?
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Servicers Tap Prepayments; Relief From Agencies Limited

May 7, 2020
Brandon Ivey
The gap between when prepayment proceeds are received and when the funds must be transferred to agencies provides an opportunity for servicers to use the funds for forbearance-related advance payments.
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COVID-Related Charges Tank GSE Earnings

May 7, 2020
Dennis Hollier
A 91% drop in GSE earnings during 1Q has raised concerns about their second-quarter performance and exit from conservatorship.
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Mortgage Applications Slow in COVID-19 Hot Spots

May 7, 2020
Brandon Ivey
States with a higher case rate of coronavirus infections saw a larger drop in purchase-mortgage applications in March, according to the CFPB.
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Guaranteed Rate Settles FHA Underwriting Violations

May 7, 2020
Maria Volkova
A whistleblower-initiated investigation has resulted in Guaranteed Rate agreeing to pay $15 million for violating False Claims Act rules.
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