Regulators have acknowledged that the lack of legal clarity and the speedy implementation of the new forbearance requirements may set the stage for exploitation by unscrupulous or ill-informed servicers.
According to independent mortgage bankers, aggregators are adding credit overlays and refusing to buy loans in response to post-closing forbearance risk.
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.
Megaservicer Mr. Cooper anticipates a large MSR mark for the first quarter, thanks to lower rates and COVID-19. The big question: How bad will it be for the rest of the industry?