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.

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?

And since nonbanks account for eight of the 10 largest Ginnie Mae servicers, there’s a concern about their liquidity.

Reverse-mortgage lenders have been struggling since FHA tweaked a policy that reduced the amount borrowers can draw from their home equity.

The top 10 Ginnie Mae issuers in February were all nonbanks, with PennyMac and Freedom Mortgage ranking first and second, respectively…

The top two agency MBS issuers in February? Answer: Nonbanks Quicken Loans and PennyMac…

For nearly all of President Trump’s term, Ginnie Mae has been operating without a president, carrying on its daily business with surrogates.

Quicken Loans was the top ranked FHA producer for the year with $17.4 billion, followed by United Wholesale Mortgage ($13.1 billion) and Freedom Mortgage ($8.7 billion).

For the full year, production soared by 42.7% to $216.8 billion, also a record. The driver: Strong refinance volume driven by low interest rates.