MSR

As the growth rate in forbearance requests downshifts, a vast stockpile of loans await modifications.

The lenders also are receiving warrants to purchase New Residential stock.

Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.

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.

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.

Lenders that split their sales of loans and servicing between two different investors may be facing yet another challenge due to the coronavirus outbreak.

Mark Calabria needs to be working to secure a Fed facility for servicer advances and to support, not denigrate, smaller servicers, the Mortgage Bankers Association said.

The CARES Act does not define what a covered period is when it comes to residential mortgage borrower requests for forbearance.

Ocwen Financial has approximately $749 million of liquidity from various sources to deal with servicing issues arising from the coronavirus, a company press release said.