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Short Takes: Anxious About the Self-Employed? / Two Bank Statements Required / A Very Fortunate Industry? / When A Borrower Loses Their Job / The SOFR Playbook

May 29, 2020
Paul Muolo and Dennis Hollier

How worried should lenders be about the self-employed and small business owners?


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Senate Democrats Query FHFA and CFPB on COVID-19 Forbearance

May 29, 2020

The senators write: “The CFPB and FHFA must also have plans to use their respective tools and authorities to immediately address trends that indicate borrowers are receiving inaccurate information or unequal treatment, or that servicers are not complying with the law.”


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Non-QM Lenders Return, but Carefully. NewFi Lowers Its LTV Max to 60%

May 29, 2020
Brandon Ivey

After the pandemic changed its worldview, NewFi lowered its LTV on non-QM offerings to 60%...


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MBA Cautiously Optimistic Annual Convention Will Be Held in Chicago

May 29, 2020
Yemeng Yang

Conferences, exhibit halls and the sponsorships that go along with them are an important source of revenue for many trade groups...


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Mr. Cooper Discloses a Whopping 300 BP GOS for 2Q20

May 28, 2020
Paul Muolo

Industry consultant Paul Hindman called the profit margin news from Mr. Cooper "phenomenal."


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New GSE Capital Rule Too Conservative for Investors?

May 28, 2020

Among the critics of the newly issued capital framework: Don Layton, Freddie Mac's former CEO...


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Jumbo Mortgage Market Took It On the Chin in 1Q20

May 28, 2020
John Bancroft

Wells Fargo led the jumbo pack in 1Q20 but its volume fell 23.1% on a sequential basis...


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Short Takes: Waiting on FHA’s Forbearance Policy / Getting It Right / Refi Applications Drop / Purchase Apps Spike in New York / Exec Leaves MUFG for Greystone

May 27, 2020
Paul Muolo

Fun fact: Refi applications are up 176% from last year.


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Trouble Ahead? Buybacks of Fannie/Freddie Loans Spurt Higher in 1Q20

May 27, 2020
John Bancroft

The pipeline of unresolved buyback claims also grew during the first three months of the year, although repurchase activity in general remains at subatomic levels.


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Despite Pandemic, Warehouse Commitments Keep Rising (To a New Record)

May 27, 2020
Paul Muolo

Compared to the same period a year ago, warehouse lines of credit to nonbanks increased by a mouthwatering 41.9%.


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