Mixed Readings on COVID-19 Forbearance. MBA Reports a ‘Noticeable Increase’ in Call Volume June 16, 2020 Paul Muolo Black Knight reported: “At today’s level, mortgage servicers need to advance a combined $3.5 billion a month to holders of government-backed mortgage securities on COVID-19-related forbearances."Read More
FHFA to Re-Propose Financial Eligibility Requirements June 15, 2020 Dennis Hollier So far, the industry response has been positive, with a thumbs up coming from CMLA...Read More
Signs of Life in Public Bulk MSR Auctions? June 15, 2020 Paul Muolo According to the offering circular, the seller is a “well capitalized institution” based in California. Read More
Velocity Completes Unrated Securitization, Plans to Resume Lending in 3Q June 15, 2020 Brandon Ivey Velocity planned to issue an MBS in April but volatility from the coronavirus disrupted its plans...Read More
Delinquencies on Non-QM MBS Spike. Impairment Rate North of 16% June 15, 2020 Brandon Ivey Self-employed borrowers had the worst performance, on average, followed by loans for investment properties... Read More
Short Takes: Quicken’s IPO, What Possibly Could Go Wrong? / Rock Solid Origination Margins / Post 2021? / Knock, Knock. Hi, We’re From Wall Street / Calabria’s Wise Observation June 12, 2020 Paul Muolo An island in the COVID-19 storm; Mortgage banking...Read More
Mortgage Bankers Optimistic on a Purchase-Market Recovery June 12, 2020 Maria Volkova Another factor driving optimism: Buyer demand is staying strong, while the supply of homes on the market is low. Read More
SFA Chief Bright Sees Fed Expanding TALF to Include Jumbos June 12, 2020 Brandon Ivey SFA's Michael Bright: It looks like jumbo MBS has the highest probability of being included in an expanded TALF... Read More
As REITs Dumped MBS, Commercial Banks Rushed In to Fill the Void June 12, 2020 John Bancroft Several REITs have not yet reported first-quarter financials, so the sector’s sell-off may have been somewhat larger. Read More
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