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.

Non-agency mortgages aren’t covered under the CARES Act, leaving servicers of such loans to rely on a combination of standards set by the GSEs and individual MBS contracts.

The number of pandemic-induced foreclosures may not be as high as following the 2008 housing crisis due to the different nature and condition of the current economic downturn, according to industry experts.

The new measures will help borrowers in COVID-19-related relief avoid foreclosures at the end of their forbearance period.

After an initial public offering involving Quicken Loans and affiliated companies is completed, founder Dan Gilbert will retain 79% of the voting power in the common stock of the new entity, Rocket Companies.

The mortgage M&A landscape has been a desert for most of the year but, as always, hope springs eternal for deal makers.

Within the mortgage industry, brokers appear to be the majority of borrowers under the Paycheck Protection Program, with 601 companies submitting successful applications.

Delinquencies are leveling off and forbearance requests have declined. On the other hand, expanded unemployment benefits are ending and cases of coronavirus infection are increasing.

Lenders continue to fill new vacancies in mortgage underwriting, processing and closing.