The servicing acquisition market often gets whipsawed by falling interest rates. But it now has a bigger enemy: financial uncertainty.

To reduce contact between appraisers and homeowners, the government-sponsored enterprises will accept an exterior-only inspection or a desktop appraisal. Income verification requirements have also been eased.

Proposed legislation in New York could reduce legal uncertainties and economic difficulties associated with moving legacy adjustable-rate mortgages away from the London Inter-Bank Offered Rate.

The closure of nonessential businesses to contain the spread of the coronavirus has affected mortgage loan closings in counties where recording offices have shuttered.

It was mortgage market Armageddon this week, courtesy of the corona-virus. Lenders were knee-deep in refis but fears mounted regarding an expected spike in delinquencies and about nonbank liquidity. The feds issued a foreclosure moratorium on government and GSE loans.

Some non-QM lenders are facing pricing issues as demand in the secondary market fluctuates. At least one wholesale lender has suspended originations.

All CFPB employees, including examiners, will telecommute until April 3 in response to the coronavirus, potentially putting all rulemaking, supervision and enforcement activities at the bureau on hold.

Several nonbanks claim to have plenty of liquidity amid the current market turmoil. Servicing will incur losses while originations generate income.

The Department of Justice’s antitrust investigation into FICO appears to be related to an ongoing civil lawsuit between the company and TransUnion regarding underpaid royalties.

Mortgage firms are either allowing call center employees to telework or have stepped up cleaning procedures in response to the coronavirus.