Until mid-month, many nonbanks were writing loans hand-over-fist, but warehouse capacity in the COVID-19 era is running low. Also, there’s a snafu at BNY Mellon.

The GSEs won’t accept LIBOR-based loan applications after Sept. 15. They expect all purchases linked to the London rate to cease by yearend.

Small and women/minority-owned businesses servicing Freddie will receive payment on their invoices at least 20 days earlier than stipulated.

The GSEs reportedly are in the hunt to hire special servicers to handle COVID-19-related forbearance claims. The reason: Some nonbanks may be living on borrowed time.

Subservicing vendors continued to make gains in the fourth quarter as the appetite for outsourcing grew. In short, some MSR owners just don’t want to deal with the hassle of loan processing and regulations. (Includes data chart.)

With rates falling to historic lows this week, originators are salivating at the possibilities. But will the boom bring capacity issues? Maybe, maybe not.

PennyMac wants out of its servicing platform marriage with vendor Black Knight. As might be expected, lawsuits and nasty allegations are the order of the day. The two have been working together for 10-plus years.

The agency is looking for a financial advisor to help in its efforts to remove the government-sponsored enterprises from conservatorship.

Mortgage vendor Altisource this week closed its consumer advisory service Owners.com, even though home sales and originations remain brisk.