The Mortgage Bankers Association has been silent on the issue, until now...

The lender becomes liable for the indemnification payment if the property goes into foreclosure and results in a claim to the Mutual Mortgage Insurance Fund.

All three agencies recorded declining purchase-mortgage volume...

But the first quarter was just a prelude to the crescendo of refinance activity in April and May. A whopping $323.4 billion of refi loans were securitized by the GSEs and Ginnie during the past two months...

The California-based lender said it has satisfied "all" margin calls and obligations under its warehouse facilities...

Black Knight estimates that based on its reading of May 26, MBS servicers need to advance $3.6 billion a month to investors in government MBS on forborne loans and an additional $1.5 billion for real estate taxes and insurance.

Total Ginnie MBS production last month came to $61.34 billion, topping the previous record set in October 2019.

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

When measured against outstanding first liens calculated by Inside Mortgage Finance – $11.168 trillion – that means $933.6 billion of residential loans have been impaired (to some degree) by the pandemic.

PennyMac executives cited elevated margins across all channels. Also, production volume rose in the more profitable consumer-direct and wholesale-broker platforms...