Credit

Borrowers who exit CARES Act-related forbearance in the spring and have stacks of other bills to attend to may be in search of liquidity via such products, the company predicts.

In November, more loan products were being offered both at the upper and lower ends of the market.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

The Federal Housing Administration said in its annual actuarial report that the capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.

Measures are needed to better address the next event-driven mortgage credit crisis that will likely occur when an even higher percentage of mortgage credit assets are owned by nonbank entities.

Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.

This deal comes a little more than two months after CIS combined with Avantus.

Mortgage volume continues to surge, driven by borrowers refinancing behind record-low interest rates, according to Ellie Mae.

Deferrals may be hiding credit issues, leading lenders to track deposit flows, property maintenance and other factors to gauge the true health of their portfolios.

The government-sponsored enterprises set a Sept. 30 deadline for sellers to accept applications for Libor adjustable-rate mortgages.