“I haven’t been doing any deals, but I’ve been on the phone with clients a lot,” said one veteran servicing broker. “You might say they’ve been hyperventilating.”

Calabria’s remarks were part of a broader outline summarizing the impact the crisis has had on mortgage markets and the actions the FHFA has taken in response.

In the stock market, we trust. Right? Meanwhile: Ocwen to the rescue? (Too bad Ditech didn't survive.)

Those 21 states accounted for $919.3 billion of single-family business funneled through Fannie Mae, Freddie Mac and Ginnie Mae into mortgage-backed securities issued in 2019.

“In fact,” said GSE regulator Mark Calabria, “if this goes on for more than two months, we’re going to be looking at stress for Fannie and Freddie"...

Mortgage guarantors and regulators are keenly aware of the financial disaster that could be in the making. Conference of State Bank Supervisors President John Ryan sent a letter to Federal Reserve chairman Jerome Powell and Treasury Secretary Steven Mnuchin encouraging the creation of a liquidity facility to support residential servicers.

Back in September, Freedom’s financials looked strong. The lender/servicer is privately held...

We’re still waiting to hear word on pending legislation to provide economic relief to consumers and businesses affected by the pandemic. Included in the bill is a funding mechanism for nonbank servicers.

The maneuvers have raised questions about the CFPB’s ongoing rulemaking, supervision and enforcement activities…

Freedom Mortgage said it has mobilized its work-from-home protocols and “dramatically reduced our work-from-office personnel.”