“The problem,” said Dave Worrall, president of LoanCare, Virginia Beach, VA, “is that servicing buyers aren’t hitting the bid.” This, in turn, forces the actual originator of the loan to keep MSRs.

In a statement, JPM CEO Jamie Dimon – no big fan of the mortgage industry – said he is “pleased” his company was selected as Freddie’s underwriting advisor.

Black Knight reported: “At today’s level, mortgage servicers need to advance a combined $3.5 billion a month to holders of government-backed mortgage securities on COVID-19-related forbearances."

So far, the industry response has been positive, with a thumbs up coming from CMLA...

According to the offering circular, the seller is a “well capitalized institution” based in California.

Velocity planned to issue an MBS in April but volatility from the coronavirus disrupted its plans...

Self-employed borrowers had the worst performance, on average, followed by loans for investment properties...

An island in the COVID-19 storm; Mortgage banking...

Another factor driving optimism: Buyer demand is staying strong, while the supply of homes on the market is low.