The biggest surge was in the Ginnie Mae program, where 818,657 loans were classified as 30- to 60-days past due as of the end of April, or 7.02% of the overall Ginnie portfolio. That was up 352,397 loans from the end of March.

According to the CFPB, SLS failed to send evaluation notices or give ample notification time to certain borrowers who filed loss-mitigation applications...

According to figures compiled by Inside Mortgage Finance, consumers owe $11.168 trillion on their first liens. If the new MBA forbearance reading is applied to that number, $883.3 billion of mortgages are in need of assistance, temporary or otherwise.

It's not hard to see why Fannie and Freddie like their CRT programs...

To clarify: No one is betting on a V-shaped recovery in either the U.S. economy or servicing sales in particular.

Top contributors to the deal include 5th Street Capital with a 42.8% share and Sprout Mortgage (41.0%). Servicing is being divided among Specialized Loan Servicing (62.4%), Fay Servicing (31.4%) and Lima One Capital (6.2%).

Using the "float" of payoffs to offset the advances? Why not? These are tough times...

The mortgage employment reading, while strong, trails the national numbers by one month.

Officials at PennyMac said the nonbank is prepared to handle servicing-advance requirements and that origination activity remains strong...