There was a huge spike in early-payment delinquencies in April that migrated to more serious categories of default in May and June. Last month saw a huge increase in servicer buyout of delinquent loans. (Includes four data charts.)
Even though loan forbearance is an issue that won’t go away, some FHA lenders are reporting off-the-charts profit margins. Included in that club: Mr. Cooper.
FHA loans are known as low FICO score products, and that's a problem in this new coronavirus world we live in. Warehouse lenders are lowering the boom.