The CFPB wants to base QM status on a pricing metric rather than approval by the GSEs. Most mortgages would remain QMs but some business could shift to the non-agency market.

Nonbanks accounted for a record 63% of production by the top 100 lenders in the first quarter. Meanwhile, industry economists project a sharp drop in volume in the third quarter. (Includes two data charts.)

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.

Banks and thrifts continued to cede share in the servicing of single-family MBS to nonbanks. The retained portfolios of depository institutions grew at half the rate of overall mortgage debt outstanding. (Includes two data charts.)

Nonbank lenders and mortgage real estate investment trusts stand to gain from expanding the eligibility requirement for FHLBank membership, according to industry comment letters.

To hedge MSRs or not to hedge? That’s the question of the day. It appears that many shops, including the top-ranked Mr. Cooper, are getting in line.

The CFPB is allocating significant supervisory resources to learn about programs servicers are offering borrowers and policies that have been enacted.

The supply of home-equity debt outstanding fell below $500 billion in the first quarter. And though new originations were up slightly, lenders took a step back in April. (Includes three data charts.)

Given the current state of economic affairs in the nation, a nonbank mortgage company pulling off a public offering of stock seems like a long shot. Right? Maybe not.

Independent mortgage bankers heaved a sigh of relief after the Federal Housing Finance Agency said it will re-propose the minimum financial eligibility requirements for single-family seller/servicers.