Refi volume was clearly gaining speed in March. On a combined basis, deliveries of FHA and VA refi loans grew 8.4% from February…

At March 31, Mr. Cooper serviced $629 billion worth of home mortgages, including $129 billion of Fannie Mae/Freddie Mac product and $108 billion of Ginnie Mae loans. However, roughly half its portfolio, $317 billion, is represented by subservicing contracts.

Sources contend that other banks might follow Wells' lead but as the weekend approached, the situation was fluid, to say the least.

Redwood has been able to meet margin calls but is selling mortgage securities at a loss.

Additional community development activities (loans, investments or services that support digital access, health care, small business operations and food supplies) will receive consideration for CRA credit during the pandemic.

As New Jersey loan broker Brian Benjamin put it, “Most lenders I see now want a paystub within 30 days of closing and a verbal VOE [verification of employment] within five days of closing.”

The new “flexibilities” cover both originations and appraisals. On the origination front, Fannie and Freddie will reduce the acceptable age of income documentation on most loans to 60 days from 120...

Some good news: The top five producers of jumbo mortgages all continue to originate the loans, despite the market turmoil caused by the coronavirus...

Those top GSE volume states also accounted for $1.776 trillion of GSE single-family loans outstanding at the end of last year, 37.4% of the total market.