Mortgage credit availability decreased in February, according to the Mortgage Bankers Association's Mortgage Credit Availability Index.

CoreLogic, Irvine, Calif., reported just 3.7% of mortgages in some stage of delinquency in December, the lowest for a December in more than 20 years.

In the wake of the 2008 global financial crisis, many risk managers in the mortgage issuance industry were caught flat-footed with representations and warranties exposure, also commonly known as repurchase exposure.

The yield on U.S. 10-year Treasuries fell to record lows last week, driven by increasing concerns regarding the spread of the coronavirus and its impact on the global and U.S. economy. Just last week, there has been an increase in occurrences of business shutdowns, travel restrictions and potential spending reductions.