The reaction from some trade group officials was swift. Scott Olson, Executive Director of the Community Home Lenders Association, called the new COVID-19-related guidelines “totally inadequate.”

When the going gets tough, the tough tighten their underwriting standards...

Tighter underwriting standards from wholesalers and aggregator are limiting the production flow...

Of course, early this spring, the FHFA, in trying to aid consumers economically impacted by the pandemic, requested that servicers provide forbearance.

Another day goes by, and more pleas to Uncle Sam to fix the MBS liquidity problem. What will it take?

The active non-QM funders include ACC Mortgage, A&D Mortgage, First National Bank of America, Newfi Lending and Silvergate Bank. (Silvergate, up until recently, was also a warehouse provider of non-QM products.)

First Horizon wants FICOs of at least 670 and will only provide credit on conventional and government loans.

Impac had hoped to resume lending again after a shutdown of two weeks. But that was then...

Overall, mortgage citations accounted for only 8% of total gripes...

Only 11.22% of purchase-money mortgages purchased by the GSEs in the first quarter had FICO credit scores below 700. That was down from 12.05% in the fourth quarter and 14.66% a year ago.