The economic damage caused by the pandemic took a bite out of Freddie’s first-quarter results. More trouble lies ahead, including forced MSR transfers.
When the going gets tough, the wholesale channel is often the first to go. Mr. Cooper this week shuttered its broker platform, but will other table-funders follow suit?
Investment losses dented title insurance underwriters’ bottom lines in the first quarter of 2020. However, the refinance boom boosted their order volume.
The GSEs reportedly are in the hunt to hire special servicers to handle COVID-19-related forbearance claims. The reason: Some nonbanks may be living on borrowed time.
Mortgage bankers have been clamoring for liquidity help from the FHFA. This week, the agency delivered on the issue of the GSEs buying COVID-19-related forbearance loans, but then lenders read the fine print.