Homeowners continue to take advantage of government and bank mortgage forbearance programs amid the coronavirus crisis.
Forbearance programs would cause liquidity problems for nonbank mortgage providers, the industry says.
A sharp drop in mortgage rates is sending homeowners to their lenders to lower monthly payments.
The government shutdown, now in its 28th day, is creating a backlog of loan approvals.
A weekly measurement of refinancing activity showed a 5% decline even though mortgage rates fell for the first time in seven weeks.
