Mortgage guarantors and regulators are keenly aware of the financial disaster that could be in the making. Conference of State Bank Supervisors President John Ryan sent a letter to Federal Reserve chairman Jerome Powell and Treasury Secretary Steven Mnuchin encouraging the creation of a liquidity facility to support residential servicers.

Back in September, Freedom’s financials looked strong. The lender/servicer is privately held...

We’re still waiting to hear word on pending legislation to provide economic relief to consumers and businesses affected by the pandemic. Included in the bill is a funding mechanism for nonbank servicers.

The maneuvers have raised questions about the CFPB’s ongoing rulemaking, supervision and enforcement activities…

Freedom Mortgage said it has mobilized its work-from-home protocols and “dramatically reduced our work-from-office personnel.”

The goal is to stop a tidal wave of housing-related financial damage that might potentially destroy the social fabric of the nation.

Fannie and Freddie said residential borrowers are expected to contact their servicer to set up forbearance plan.

CHLA recommends that FHFA only apply the new rules to companies with servicing portfolios exceeding $10 billion.

And therein lies a chief fear for the mortgage industry: as the economic damage caused by the spreading coronavirus piles up, will nonbank Ginnie issuers have enough liquidity to make those payments in the months ahead?

Conventional and government originators are feasting on refinancings that should keep them busy the next three months. After that...