Economists at Fannie and Freddie are “relatively optimistic” about mortgage originations in 2020, despite the economic impact of COVID-19. But not if social distancing remains in place beyond May.

Regulators have acknowledged that the lack of legal clarity and the speedy implementation of the new forbearance requirements may set the stage for exploitation by unscrupulous or ill-informed servicers.

Temporary prohibitions imposed by Pennsylvania could shutdown mortgage originations, the MBA warned. Meanwhile, the trade group noted that servicing standards set by Washington, DC, differ from federal ones.

The CFPB is likely to extend the qualified-mortgage patch, but the question remains whether it will make changes to the current QM framework.

VA mortgage companies are gearing up for an increase in purchases as lock-down orders for military personnel will be lifted starting June 30.

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.