The purchase-mortgage share of loans sold to Fannie, Freddie and Ginnie gained slightly in August, and there was some rebound in correspondent activity.
Is Bill Foley, the 75-year-old non-executive chairman of title insurance giant Fidelity National, pondering retirement? Don't bet on it. He's shaking the mortgage vendor M&A tree big time.
Although the share of loans four or more payments past due continued to climb in July, total delinquencies and early-stage default rates were lower. (Includes data chart.)
Borrowers faced with coronavirus-related financial difficulties are prioritizing auto and credit card payments over mortgage, according to Fitch Ratings.
Thanks to a booming origination market, Fannie and Freddie posted strong earnings for the second quarter despite the economic carnage caused by the pandemic. Their capital positions also improved.
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