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.

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.