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Pandemic-Related Forbearance Requests Spike. How High Can It Go?

April 9, 2020
Paul Muolo
In the coronavirus era, mortgage forbearance is the watchword. But just how many loans will go that route? Will Ginnie Mae get swamped?
Read More

Jumbo Correspondent Lending Takes a Hit, Chase Still Active

April 9, 2020
Brandon Ivey
Wells Fargo has temporarily halted jumbo production through correspondent sellers while Chase, the other major player, is still active.
Read More

Servicers Brace for Large MSR Marks. Mr. Cooper Goes First

April 9, 2020
Paul Muolo
Megaservicer Mr. Cooper anticipates a large MSR mark for the first quarter, thanks to lower rates and COVID-19. The big question: How bad will it be for the rest of the industry?
Read More

Former Freddie CEO Offers a Fix for Mortgage Servicing

April 9, 2020
Dennis Hollier
The support mortgage servicers receive during the coronavirus crisis may be used as a cudgel to enforce key changes.
Read More

IMBs May Need Small Business Loans

April 9, 2020
Yemeng Yang
Small independent mortgage firms may need to tap the small business loan program under the CARES Act to maintain operations.
Read More

FHFA Hires Law Firm to Advise on Ending Conservatorships

April 9, 2020
Dennis Hollier
Milbank has received a one-year, $3 million contract to provide legal services related to ending the conservatorships of the GSEs.
Read More

IRS Temporarily Shuts Down IVES

April 9, 2020
Maria Volkova
The Internal Revenue Service has temporarily closed its Income Verification Express Service used by lenders to verify borrowers’ tax returns.
Read More

Large Nonbank Servicers’ Finances ‘Healthy’ at 1Q End

April 8, 2020
Brandon Ivey
Mr. Cooper and Ocwen disclosed relatively healthy financials for the first quarter. However, the overall outlook for nonbank servicers is uncertain
Read More

Nonbanks Dodge Two Crises: Margin Calls and Servicer Liquidity

April 2, 2020
Paul Muolo
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.
Read More

Calabria Says 2 Million Borrowers May Seek Forbearance by June

April 2, 2020
Dennis Hollier
The FHFA director expects that close to one million GSE borrowers will inquire about forbearance during April, and two million by June.
Read More
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