Borrowers faced with coronavirus-related financial difficulties are prioritizing auto and credit card payments over mortgage, according to Fitch Ratings.

Delinquency rates generally went higher in the second quarter, and forbearance counts continued to climb. With MSR sales down, larger servicers generally ceded ground to smaller firms. (Includes three data charts.)

The bulk MSR market is on the mend but it’s hardly a “good news” story. Bids are weak and dealmakers are advising sellers to wait.

It’s one for the record books: A $3.55 billion second-quarter profit for Quicken parent Rocket Companies. But how did they do it?

At a congressional hearing, Democrats on a House subcommittee detailed instances where mortgage servicers provided initial relief for only 90 days compared to a 180-day mandate under the CARES Act.

After sharply rising to 7.8% in May, the national delinquency rate declined in June to 7.6%.

Even as many parts of the country see a surge in coronavirus infections, activity in the purchase-mortgage market continues unabated.

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.)

When it comes to origination gains, Wells Fargo and JPM took a backseat to some of their commercial banking brethren in 2Q20.

Quicken’s recent IPO news has sparked chatter that other top-ranked nonbanks might go public as well. But often, that’s easier said than done.