Banks have received two-year relief from the full impact of the new current expected credit losses accounting standard as they cope with broader impact of the coronavirus. Nonbanks are seeking similar relief.

Nonbank liquidity remained a contentious issue this week with the FHFA shutting the Fannie/Freddie assistance window as the coronavirus continued to hammer the U.S. economy. Solutions? Maybe the Fed.

In the coronavirus era, mortgage forbearance is the watchword. But just how many loans will go that route? Will Ginnie Mae get swamped?

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

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.

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.

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

The CFPB is providing certain “flexibility” to mortgage firms, but that doesn’t mean it has slacked off on supervision activities.