Finance

The title insurer did not disclose the number of layoffs.

After ending 2019 on a high note, Ocwen Financial posted an income loss in the first quarter due to the unexpected costs and volatility created by COVID-19.

Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.

Bisignano, who engineered a technology-driven recovery at First Data before it was acquired by Fiserv last year, will take Fiserv's top job as the company forges its coronavirus strategy.

The history of riskier lending over the last half century can offer lessons for today's market.

Many originators stopped making riskier products, including jumbo loans and low credit score offerings, during April.

The government-sponsored enterprises have set new temporary limits on mortgage sales while extending processing flexibilities related to COVID-19.

But it is still looking to conserve capital to cover future delinquencies and will likely halt dividends to the parent company.

Goldman Sachs and Morgan Stanley are backing the first commercial mortgage-backed securities activity in two months, through two deals that exclude hotel or department store retail assets that are most exposed to pandemic-related stresses.

Some benefits are materializing from Fannie Mae's pledge to limit servicers' exposure to principal-and-interest advances the way Freddie Mac does, but counterparties of both GSEs remain exposed to other concerns.

But Black Knight and Arch Capital's mortgage insurance business aren't as affected, at least so far.

The Federal Reserve's emergency rescue of the U.S. mortgage market should have set off celebration among lenders trying to keep up with demand from borrowers. Instead, executives at Quicken Loans got a hefty margin call.

Jay Bray speaks about the company's experience in working with distressed borrowers going back to the Great Recession.

Fannie Mae's profitability suffered but it managed to stabilize the mortgage market in the first quarter even with the coronavirus disrupting, among other things, certain credit-risk transfer vehicles it has used.

Net income grew by nearly 1,990% year-over-year as its core mortgage services businesses gained scale.

The S&P CoreLogic Case-Shiller home price index hasn't yet reflected the impact of the coronavirus, but an independent market maker has some thoughts on how it might.

While Freddie Mac stabilized liquidity in mortgage markets, coronavirus-related credit losses drove the GSE's income down in the first quarter of 2020.

The first-quarter loss ended a two-quarter profitability streak the company hoped to maintain.

Federal Reserve officials restated their pledge to hold the benchmark interest rate near zero and will keep buying bonds, judging that the coronavirus pandemic "poses considerable risks to the economic outlook over the medium term."

The broker/wholesale business was by far the smallest origination segment for the company.