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Inside Mortgage Finance

March 26, 2020

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MBS Issuer Relief Hangs in the Balance; Nonbanks a Concern

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. Read More

Coronavirus Throws Doubt Over Huge Swath of Market

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.) Read More

Non-QM Lenders Suspend Originations as Funding Jams

The bulk of lenders operating in the non-QM market have suspended production due to a lack of demand in the secondary market. There are some signs that originations could resume within weeks. Read More

MSR Sales Market Mostly Dead (Reason: Coronavirus)

The servicing acquisition market often gets whipsawed by falling interest rates. But it now has a bigger enemy: financial uncertainty. Read More

COVID-19 Guidance for Lenders

To reduce contact between appraisers and homeowners, the government-sponsored enterprises will accept an exterior-only inspection or a desktop appraisal. Income verification requirements have also been eased. Read More

Nonbanks Gain Ground in 4Q19 Originations Market

Some 59 nonbanks accounted for 60.6% of mortgage production by the top 100 lenders in the fourth quarter as their combined output rose 9.5% from the previous period. (Includes two data charts.) Read More

Draft NY Legislation to Help Legacy LIBOR Transition

Proposed legislation in New York could reduce legal uncertainties and economic difficulties associated with moving legacy adjustable-rate mortgages away from the London Inter-Bank Offered Rate. Read More

Mortgage Closings in a Fix as Recording Offices Shut Down

The closure of nonessential businesses to contain the spread of the coronavirus has affected mortgage loan closings in counties where recording offices have shuttered. Read More

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