Even more noteworthy: First Republic hasn’t issued any non-agency securities since the market meltdown of 2008.

Combined, the two companies would have $310.5 billion of MSRs, ranking 10th overall, according to Inside Mortgage Finance.

The new policy applies to borrowers who can afford to resume making their regular monthly mortgage payments, but are unable to cover the remittances they missed during forbearance...

The result: The buildup of payoff funds dramatically reduces the P&I advance requirement...

CFPB Director Kathy Kraninger believes a “limited number of automated calls from financial institutions to their customers” alerting them to offers of forbearance and payment deferrals can be a huge help in these troubled times…

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.

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

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