MSR

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.

The number of loans in forbearance increased by a full percentage point over the past week, according to the Mortgage Bankers Association.

Due to COVID-19's economic impact, the number of mortgaged properties in default or foreclosure rose in March for the first time since the turn of the century, according to Black Knight.

Declines in mortgage servicing rights valuations at JPMorgan Chase and Wells Fargo point to the resurgence of a dilemma that came up during the last downturn.