MSR

Now is the time for mortgage servicers to prioritize customer care for the homeowners they serve.

But in the worst-case scenario, the number of forbearances could grow by 3 percentage points through the end of June.

The number of mortgages in coronavirus-related forbearance rose by 37 basis points as the unemployment rate soared, according to the Mortgage Bankers Association.

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.

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

The total coronavirus-related mortgages in forbearance grew by 55 basis points, in lockstep with rising unemployment claims, according to the Mortgage Bankers Association.

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

About 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus pandemic.

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

Refinancing drove a 75% year-over-year increase in mortgage banking revenue during the first quarter at Flagstar Bancorp as it shored up its operations to avoid other negative repercussions from the coronavirus.