The support mortgage servicers receive during the coronavirus crisis may be used as a cudgel to enforce key changes.

Small independent mortgage firms may need to tap the small business loan program under the CARES Act to maintain operations.

Milbank has received a one-year, $3 million contract to provide legal services related to ending the conservatorships of the GSEs.

The Internal Revenue Service has temporarily closed its Income Verification Express Service used by lenders to verify borrowers’ tax returns.

Mr. Cooper and Ocwen disclosed relatively healthy financials for the first quarter. However, the overall outlook for nonbank servicers is uncertain

The nonbank mortgage sector appeared to be whistling by the graveyard earlier this week because of liquidity concerns sparked by the pandemic. For now, crisis has been averted but the situation is fluid.

The FHFA director expects that close to one million GSE borrowers will inquire about forbearance during April, and two million by June.

The first quarter is over and financial blood is in the streets. Now comes the hard part: figuring out MSR values that have been slammed by lower rates and (coming) delinquencies. It won’t be pretty.

The bill asks servicers of agency loans to offer forbearance to borrowers experiencing “hardship” but doesn’t say how to assess the impact.

Amid the chaos in the financial market, originations of jumbo mortgages at big banks continue while non-QM lenders are laying off staff.