Delinquencies on mortgages in agency MBS surged in April amid financial difficulties prompted by the coronavirus. Loans were performing well before the pandemic. (Includes data chart.)

The economic damage caused by the pandemic took a bite out of Freddie’s first-quarter results. More trouble lies ahead, including forced MSR transfers.

Mortgage bankers have been clamoring for liquidity help from the FHFA. This week, the agency delivered on the issue of the GSEs buying COVID-19-related forbearance loans, but then lenders read the fine print.

S&P bumps its outlook to negative on three nonbanks, while maintaining a stable rating on two others. Some are key players in GNMAs.

The economic impact of the coronavirus is smacking headlong into two unmovable trends: the growth of the Ginnie servicing market and the expansion of nonbank servicers. (Includes two data charts.)

House Republicans are pushing Federal Reserve and Treasury to create a liquidity facility for mortgage servicers struggling to fund advances.

Nonbank liquidity remained a contentious issue this week with the FHFA shutting the Fannie/Freddie assistance window as the coronavirus continued to hammer the U.S. economy. Solutions? Maybe the Fed.

Don’t look now, but the agency MBS market started the year on a pace to rival the all-time record set back in 2003. It probably won’t last. (Includes two data charts.)

The support mortgage servicers receive during the coronavirus crisis may be used as a cudgel to enforce key changes.

The nonbank mortgage sector appeared to be whistling by the graveyard earlier this week because of liquidity concerns sparked by the pandemic. For now, crisis has been averted but the situation is fluid.