Servicing

First American's Loan Application Defect Index is higher on a month-to-month basis for the first time since February 2019.

The company formally reported a nearly $65 million loss in the first quarter as the coronavirus affected its operations in March.

Compared with the week prior, approximately 83,000 more loans from all investor types became forborne.

Nonbank servicers have been seeking more sources of cash since the coronavirus disrupted markets and elevated forbearance rates. These are some strategies they may be able to use.

Mortgage industry hiring and new job appointments for the week ending June 26.

The government-sponsored enterprises had been considering tightening counterparty requirements for nonbanks, but in light of COVID-19's spread, they've reconsidered that.

For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.

The mortgage company will provide up to $17 million in forgiveness to settle charges that modifications it applied to distressed government-related loans were not in keeping with state servicing regulations.

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

The number of loans going into coronavirus-related forbearance dropped, with the growth rate falling 7 basis points between June 8 and June 14, according to the Mortgage Bankers Association.