Wells Fargo has temporarily halted jumbo production through correspondent sellers while Chase, the other major player, is still active.

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?

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

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 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.

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

As the economic crisis precipitated by the coronavirus heats up, residential lenders have tightened their underwriting guidelines.

The mortgage market remained unsettled as the coronavirus damaged the U.S. economy and lenders weighed their options. The Fed came to the rescue with liquidity measures but fears regarding nonbanks persist.

The bulk of lenders operating in the non-QM market have suspended production due to a lack of demand in the secondary market. There are some signs that originations could resume within weeks.

To reduce contact between appraisers and homeowners, the government-sponsored enterprises will accept an exterior-only inspection or a desktop appraisal. Income verification requirements have also been eased.