The forbearance picture continues to brighten but if economic activity flattens, all bets are off for the fall.

The much-anticipated IPO of origination market leader Rocket Companies commenced Thursday morning but at a reduced offering price. Surprising? Not really, but some analysts are worried about lending volumes for 2021 and beyond.

Fannie Mae and Freddie Mac can purchase early forbearance loans until Aug. 31, but they still have to impose steep loan-level price adjustments to limit their risk of losses.

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%.