According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.

The added cost associated with servicing a mortgage in forbearance gives servicers an incentive “not to follow the mandates of the CARES Act and implementing guidance,” investigators said.

The seller is described as a “well-capitalized, independent mortgage banking entity managed by industry veterans.”

Higher mortgage rates in six months? No one sees it...

Mortgages with credit scores of 740 and up accounted for 72.69% of GSE refi business, up from 65.55% in the first quarter.

Even loans that fall into the “other” category (portfolio and private-label loans mostly) dropped: 10.41% from 10.93% on July 5.

The top five servicers saw a combined 2.8% drop in MSRs...

The writing was on the wall: nonbanks took over the Ginnie market back in 2016...

Democrats and consumer advocates suggest that some servicers aren't following forbearance requirements established by the CARES Act.

JPMorgan's Jamie Dimon welcomed the FSOC news, saying during a Q&A session, “We’ve been very consistent that mortgages, believe it or not, are more – far more costly than they should be. Normally, you’d be looking at – if you looked at the 10-year [Treasury] rate which is what, 60 basis points, the mortgage take should be 1.6% or 1.8% instead of 3.3%.”