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.
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.)