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Inside Mortgage Finance

April 2, 2020

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Nonbanks Dodge Two Crises: Margin Calls and Servicer Liquidity

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. Read More

Flow of Private MI Loans to GSE MBS Slows in 1Q20

Fannie Mae and Freddie Mac purchased fewer loans with private MI coverage in the first quarter of 2020, although the market was up sharply from the same period last year. (Includes four data charts.) Read More

Calabria Says 2 Million Borrowers May Seek Forbearance by June

The FHFA director expects that close to one million GSE borrowers will inquire about forbearance during April, and two million by June. Read More

A Double Whammy for 1Q20 MSR Marks: Plunging Rates and Virus

The first quarter is over and financial blood is in the streets. Now comes the hard part: figuring out MSR values that have been slammed by lower rates and (coming) delinquencies. It won’t be pretty. Read More

Nonbank Servicers Want Guidance on CARES Act

The bill asks servicers of agency loans to offer forbearance to borrowers experiencing “hardship” but doesn’t say how to assess the impact. Read More

Non-Agency Lending Sees Mixed Coronavirus Impact

Amid the chaos in the financial market, originations of jumbo mortgages at big banks continue while non-QM lenders are laying off staff. Read More

CFPB Continues to Conduct Oversight Amid Virus

The CFPB is providing certain “flexibility” to mortgage firms, but that doesn’t mean it has slacked off on supervision activities. Read More

Lenders Tighten Underwriting in View of Market Uncertainty

As the economic crisis precipitated by the coronavirus heats up, residential lenders have tightened their underwriting guidelines. Read More

Servicers Swamped with Calls for Mortgage Forbearance

Mortgage servicers’ phone lines over the past few days have been inundated with calls from borrowers requesting forbearance. Read More

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