The volume of business the GSEs conduct in various noncore categories increased in 3Q but the noncore share of Fannie/Freddie business declined as lenders focused on refinances. (Includes data chart.)
The share of non-QMs that are delinquent or in a loan modification declined again in September. The impairment rate in the sector remains high, though loan holders are optimistic.
The share of loans in the seriously delinquent category increased during the third quarter. Loan performance was worst among FHA mortgages. (Includes data chart.)
In order to settle a class-action lawsuit, the nation’s largest servicer said it will provide forbearance only to borrowers who request assistance verbally, in writing or through electronic means.
The fix-and-flip lender relaunched production in September but doesn't expect originations to return to pre-COVID levels until the second quarter of 2021.