From a market perspective, all those forbearances are cumulative. Fannie Mae and Freddie Mae estimate that one in four of the borrowers who entered into forbearance continued to make their payments...

The new QM standards are set to take effect March 1 with a mandatory compliance date of July 1. Between March 1 and July 1 lenders can use the QM patch or the new standards but after July 1, originators can only use the new standards.

In 4Q20, the nonbank mortgage giant originated $69.41 billion of product, a 28.1% improvement from a red hot third quarter. Its servicing portfolio grew by 6.2% in that span to $426.75 billion.

CMLA’s Rob Zimmer said what he finds so perplexing about the cap is that “no one saw this coming”…

January agency MBS issuance ranked as the third largest monthly total on the record books. Production was almost exactly double the amount issued in January 2020, before the pandemic led indirectly to a massive refinance wave.

In a red hot hiring market, it appears that some lenders are being scammed by phony resumes...

Total servicing held by depository institutions slipped 2.9% during the fourth quarter, shrinking their share of the top-50 market to 48.7%.

Its gain-on-sale margin came in at 305 basis points in 4Q20 compared to 110 bps in the year ago period. The nonbank also vowed to return “excess cash” to shareholders when possible, a reference to dividend payments.

Figure Acquisition Corp. I is planning to acquire a company involved in financial technology and financial services.