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Lawmakers Ask Servicers to Provide Consistent Information

May 7, 2020
Maria Volkova
The House Financial Services Committee has asked servicers to disseminate consistent information about pandemic-related forbearance options.
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COVID-19 Fallout Hammers Freddie’s 1Q20 Revenue

April 30, 2020
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.
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Mr. Cooper Exits Wholesale. A One-Off or a Trend?

April 30, 2020
Paul Muolo
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?
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Servicers Appeal to Congress for Help

April 30, 2020
Brandon Ivey and Dennis Hollier
After failing to get help from federal agencies, nonbank servicers’ lobbying efforts for a liquidity facility have shifted to Congress.
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Title Insurers 1Q Earnings See Mixed Impact of COVID-19

April 30, 2020
Yemeng Yang
Investment losses dented title insurance underwriters’ bottom lines in the first quarter of 2020. However, the refinance boom boosted their order volume.
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CFPB Wields Light Touch on COVID-Era MSR Transfer Scrutiny

April 30, 2020
Yemeng Yang
The CFPB will use supervisory feedback, rather than enforcement actions, to identify compliance issues in MSR transfers during the pandemic.
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A Continuous Uptick in Forbearance Requests

April 30, 2020
Maria Volkova
COVID-related forbearance requests increased once again, according to the latest tally from the Mortgage Bankers Association.
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The GSEs Need Specialty (COVID) Servicers (Now)

April 23, 2020
Paul Muolo
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.
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Industry Outraged at FHFA Over LLPAs on Forbearance Loans

April 23, 2020
Paul Muolo and Dennis Hollier
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.
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Non-QM Lending Down but Not Out as Sprout Resumes Production

April 23, 2020
Brandon Ivey
In a sign of hope for the non-QM market, Sprout Mortgage resumed offering expanded-credit products last week.
Read More
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