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.

In a sign of hope for the non-QM market, Sprout Mortgage resumed offering expanded-credit products last week.

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.