BRACING FOR THE NEXT DISTRESSED CYCLE

Welcome to the first edition of IMN’s Mortgage Servicing Rights Newsletter! As we all adjust to a new normal amid unprecedented disruption, IMN is committed to keeping you connected with your peers, facilitating new inroads in the Mortgage & MSR communities and delivering the content you value the most. We welcome any feedback you may have to help us provide value with our digital offerings.

Keep reading for a peek at an exclusive interview with First Guaranty Mortgage Corporation CEO Aaron Samples on Key Issues in the Mortgage and MSR Markets, The Capital Markets Team at Better.com on MSR Acquisitions and Dispositions and a podcast interview with Domonic Purviance of the Federal Bank of Atlanta on the Economy and the Mortgage Market. Additional features include MSR in the news, a link to our recent webinar: The Mortgage Servicing Rights Industry Update and our schedule of MSR and mortgage events.

We hope everyone stays safe and well during these challenging times and look forward to connecting our communities with a growing suite of digital thought leadership content.

INTERVIEW: IMN sat down with First Guaranty Mortgage Corporation's CEO Aaron Samples, who discusses some the key issues in the mortgage and MSR markets.

Discover the ins and outs of their practices and how COVID-19 may have impacted and changed business strategy, as well as a look at the mortgage market's outlook over the next 12 months.

INTERVIEW: IMN catches up with the capital markets team at Better.com on their recent strategies and market observations on MSR acquisitions and dispositions.

Learn how their loan due diligence changed since the coronavirus hit, if they sell on a flow, co-issue or bulk, how they are financing mortgages...and answers to many more pressing questions in this exclusive interview!

PODCAST: What is the biggest risk in the residential real estate markets today? Will the coronavirus change housing affordability? What shape do you expect the recession to look like?

IMN’s Steve Glener is joined by Domonic Purviance, Senior Financial Policy Analyst of The Federal Reserve Bank of Atlanta, who will give his insight on these questions and much more on this podcast. 

Please note: “The views expressed do not necessarily express the views of the Federal Reserve Board or the Federal Reserve Bank of Atlanta.”

Fannie Mae, Freddie Mac are preparing to cover servicers’ advances on loans in forbearance

When the Federal Housing Finance Agency announced last month that servicers who collect payments on mortgages backed by Fannie Mae and Freddie Mac will only be required to cover four months of missed payments on loans in forbearance, the big question was what happens when that four-month period is over.

That’s because neither the GSEs nor the FHFA said who would pay the remaining principal and interest payments that those servicers are required to send to investors, but it’s not a mystery anymore.

As it turns out, the GSEs themselves are preparing to cover any remaining advances...

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COVID Forbearance Requests Keep Rising. Almost 10% of Ginnies ($194B) on Federal Relief

Roughly 6.99% of all mortgagors, representing an astounding $780.6 billion of residential loans, have requested COVID-19-related forbearance relief through their servicers, according to figures released Monday afternoon by the Mortgage Bankers Association.

The reading represents requests made as of April 19. A week earlier the tally was 5.95%.

The news continues to be grim for consumers whose mortgages have been securitized into Ginnie Mae MBS: 9.73% of outstandings compared to...   

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Bulk MSR Transfers Actually Increased in 1Q20 – Thanks to Mop-Up Work on the Ditech Deal

Bulk transfers of agency mortgage servicing rights rose slightly in the first quarter of 2020 as NewRez finished boarding MSRs it acquired last year from Ditech Financial.

A new Inside Mortgage Trends analysis shows $107.88 billion of Fannie Mae, Freddie Mac and Ginnie Mae MSRs were transferred in bulk transactions during the first three months of this year. That was up...  

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