The total delinquency rate fell by 155 basis points between March and June, according to Inside Mortgage Finance’s Large Servicer Delinquency Index. Still, close to 1.5 million borrowers are more than 90 days past due. (Includes data chart.)

Servicing sales’ worst enemy: declining interest rates. Bulk transactions are weak while flow deals hold steady.

FHA servicers are required to screen their portfolios by Aug. 24 for borrowers potentially eligible for the mod.

The bureau issued a final rule that nearly all residential servicers must adhere to when dealing with principal residences where borrowers are struggling with the financial impact of COVID-19.

The CFPB scaled back a proposed foreclosure moratorium and declined a request to exempt non-agency loans from the new standards.

Competition among the two dominant players in the wholesale channel continues to reduce the profit equation. However, margins from retail lending remain robust … for the moment.

Mortgage performance improved, thanks to a healing economy and federal stimulus. Still, delinquencies and forbearance rates remain high. (Includes data chart.)

The voluntary standards are in response to complaints from non-agency MBS investors regarding disclosure of loan performance amid the pandemic.

Legal analysts say the bureau’s across-the-board delay on foreclosure starts could face legal challenges. Meanwhile, consumer advocates call for more stringent requirements.

Many of the bank’s mortgage borrowers saw income increase during the pandemic, with boosts from stimulus checks and unemployment benefits.