Ocwen said it received written notification on the violation from the NYSE on April 8.

The Ginnie Mae portion is $130 billion: Forbearance requests on 5.89% of $2.2 trillion worth of FHA/VA loans that back GNMA MBS.

In a nutshell, depository institutions managed to increase their sales of refinance loans sequentially while IMBs saw a drop...

In an industry update, Keefe, Bruyette & Woods predicts it may still take some time before the establishment of an emergency funding facility for residential servicers with MBS payments coming due.

One of the goals: to assist nonbanks so they are not declared in technical default, an event that would trigger financing covenants they have with their warehouse lenders.

Scott Olson, executive director of the Community Home Lenders Association: "This is a period of deep uncertainty for IMBs. Those that service [loans] are getting hit with huge unexpected liquidity demands regarding advances."

“This is a sea change,” said Steve Harris, president of MIAC Analytics, New York. “It’s going to get really ugly from here – and I know ugly.”

FHA forbearance is expected to swell in the weeks and months ahead...

But will the central bank act decisively? “Powell’s remarks were encouraging,” one veteran industry lobbyist noted.

Among the top five agency MBS issuers in the first quarter, three were nonbanks: Quicken, PennyMac and UWM, according to exclusive figures from Inside Mortgage Finance...