Angel Oak Mortgage Solutions laid off roughly 70% of its 275 employees as non-QM originations have stalled due to economic fallout caused by the coronavirus.

In the stock market, we trust. Right? Meanwhile: Ocwen to the rescue? (Too bad Ditech didn't survive.)

“That’s going to grow as we see more and more states that enter into a shelter-in-place status,” said Steve Gottheim, senior counsel at ALTA.

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.

Meanwhile, mortgage wholesalers are starting to reassess their rate-lock policies for shelter-in-force states...

In a time of crisis should Fannie and Freddie be allowed to hold more MBS? Hike the GSE loan limit too?

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

Consultant Paul Hindman, who heads Grid Financial, said he knows of one lender who recently sent 1,000 workers home “with new equipment.” He did not identify the shop by name.

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

Most state laws require loan originators to conduct mortgage activities at a licensed location...