Warehouse credit flows downhill: from the financier to the nonbank lender to the consumer. But with the pandemic stoking new economic fears, some providers are tightening their standards, like market leaders JPM and FH.
The economic impact of the coronavirus is smacking headlong into two unmovable trends: the growth of the Ginnie servicing market and the expansion of nonbank servicers. (Includes two data charts.)
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House Republicans are pushing Federal Reserve and Treasury to create a liquidity facility for mortgage servicers struggling to fund advances.
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According to independent mortgage bankers, aggregators are adding credit overlays and refusing to buy loans in response to post-closing forbearance risk.
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A lack of consistent post-forbearance options may pose additional risks for the industry, particularly for loans owned by Fannie and Freddie.
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Our 2020 calendar called for this week to be a publishing break. But there is too much happening in the industry to take a week off. This issue is a bonus to your subscription and does not count as one of the 48 promised for the year.
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