The loans were divided among four pools. Three were sold to VRMTG ACQ, a minority- and woman-owned business.

Freddie told homeowners that, in addition to the traditional disaster relief options provided by the GSEs, they may be eligible for relief through COVID-related forbearance programs.

Homeowners affected by natural disasters can often suspend their payments for up to 12 months without incurring any late fees.

Still, Rep. Maxine Waters (D-CA), chair of the House Financial Services Committee, urged the Federal Housing Finance Agency to kill the LLPA outright.

Signs of life in the servicing sales arena? A little bit of late, but don’t bet the farm on it.

MBA President Bob Broeksmit argues that the new LLPA “flies in the face of the administration’s recent executive actions urging federal agencies to take all measures within their authorities to support struggling homeowners.”

The deadline, already extended once by the Federal Housing Finance Agency, is unlikely to get another extension.

Hundreds of smaller GSE sellers retained more servicing in the second quarter than they usually do, setting the stage for increased bulk MSR trades when buyers get more confident. (Includes two data charts.)

In its S-1 filing, Quicken (not surprisingly) said it’s powerless to modify the rules that govern its relationship with the GSEs.

The panel this week heard testimony that servicers failed to inform borrowers of their right to forbearance, offered less assistance than required by law and provided inaccurate information on lump-sum repayments.