In a statement, MBA Chief Economist Mike Fratantoni said, “The job market has cooled somewhat over the past few weeks, with layoffs increasing and other indications that the economic rebound may be losing some steam because of the rising COVID-19 cases throughout the country. It is therefore not surprising to see this situation first impact the Ginnie Mae segment of the market.”

Fun fact: Among the nation’s top 20 residential servicers in 2Q20, just six were depositories...

An MBS that yields 1.5%? Hard to fathom.

In the announcement extending the policy, FHFA Director Mark Calabria offered a defense of the stiff surcharges, saying, “Lenders have a responsibility to ensure that borrowers can make their monthly payment.”

The lower readings might suggest a lack of interest in FHA/VA lending but that’s hardly the case given the continued strong production numbers…

The Ginnie Mae market was hit particularly hard, with bulk transfers crashing 81.0% to just $11.63 billion.

Rocket's "virtual" IPO roadshow is currently underway...

Given the widespread shuttering of consumer-focused businesses due to the coronavirus, it’s no surprise that securitization of loans on retail properties plummeted 90.1% to just $275.0 million.

Democratic lawmakers called on CFPB Director Kathy Kraninger to resign.

Redwood generated $165 million of net income in the second quarter after posting a $943 million loss in 1Q20...