Although the share of loans four or more payments past due continued to climb in July, total delinquencies and early-stage default rates were lower. (Includes data chart.)
Borrowers faced with coronavirus-related financial difficulties are prioritizing auto and credit card payments over mortgage, according to Fitch Ratings.
Thanks to a booming origination market, Fannie and Freddie posted strong earnings for the second quarter despite the economic carnage caused by the pandemic. Their capital positions also improved.
Independent mortgage companies for the first time serviced more than half of the single-family loans in agency MBS at midyear. But many high-ranked servicers saw declines in their agency servicing portfolios. (Includes two data charts.)
Heavy rate-term refinances and cash-out transactions accounted for much of last year's big gain in first-lien originations. Denial rates were down in nearly all categories. (Includes data chart.)