Black Knight reported: “At today’s level, mortgage servicers need to advance a combined $3.5 billion a month to holders of government-backed mortgage securities on COVID-19-related forbearances."

Others blanched at the price tag and are now pondering whether they should install new loan-level price adjustments, something FHA would not welcome.

The flow of first-time buyer loans was up 20.0% from the first five months of 2019...

The Mortgage Bankers Association has been silent on the issue, until now...

The lender becomes liable for the indemnification payment if the property goes into foreclosure and results in a claim to the Mutual Mortgage Insurance Fund.

All three agencies recorded declining purchase-mortgage volume...

But the first quarter was just a prelude to the crescendo of refinance activity in April and May. A whopping $323.4 billion of refi loans were securitized by the GSEs and Ginnie during the past two months...

The California-based lender said it has satisfied "all" margin calls and obligations under its warehouse facilities...

Black Knight estimates that based on its reading of May 26, MBS servicers need to advance $3.6 billion a month to investors in government MBS on forborne loans and an additional $1.5 billion for real estate taxes and insurance.

Total Ginnie MBS production last month came to $61.34 billion, topping the previous record set in October 2019.