The mortgage market remained unsettled as the coronavirus damaged the U.S. economy and lenders weighed their options. The Fed came to the rescue with liquidity measures but fears regarding nonbanks persist.
Some 60% of last year's agency single-family business came from markets that are now under shelter-in-places mandated by state governors. (Includes data chart.)
It was mortgage market Armageddon this week, courtesy of the corona-virus. Lenders were knee-deep in refis but fears mounted regarding an expected spike in delinquencies and about nonbank liquidity. The feds issued a foreclosure moratorium on government and GSE loans.
Ginnie Mae plans to replace the current pool-level orientation of its mortgage-backed securities platform with loan-level functionality. The goal is to scope out a path and timeline to implement loan-level capabilities.
If a Democrat wins the presidential race, industry analysts expect regulatory changes in the mortgage industry. If Trump is reelected, GSE reform efforts will continue to gather pace.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS