MSR values sank over 34% during the first seven months of 2020, according to a July update from Mike Carnes, managing director of MSR valuations at MIAC Analytics.
Mortgage credit supply in August fell to its lowest level in six year, driven by a reduction in supply from both conventional and government segments t, according to a recent tally by the Mortgage Bankers Association.
The FHA lowered payment history requirements for borrowers with previous forbearance to refinance their loans in order to aid the housing market. The changes are for purchase and rate-term refi loans.