The relatively low share of borrowers who were distressed in June adds to signs that the offramp from government relief measures may not lead to an overwhelming wave of foreclosures.

Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.

The meager increase suggests the largest boost in inventory possible would likely still leave the backlog of homes on the market at historic lows.

RFS Asset Securitization could issue additional notes, up to $500 million, at any time during the revolving period, which could be as soon as June 2024.

Despite lower numbers, refi applications continued trending strongly, while purchases fell close to lows from more than a year ago.

The Detroit company, one of the nation's largest car lenders, enjoyed a surge in profits during the second quarter, largely due to strong consumer demand for vehicles. But how long will the good times last?

Meanwhile, the average new-home mortgage price climbed to a new all-time high, according to the Mortgage Bankers Association.

Industry observers say they expect current market conditions to support healthy deal flow through the end of 2021.

As rising home valuations force first-time home buyers out of the market, expect to see non-owner-occupied loans to increase.

In a deal underwritten by RBC, the initial note balance could either be $1.2 billion or $1.7 billion, depending on market conditions at the time of pricing.

Consumers are booking rooms at levels not seen since early 2020 and loan delinquencies have fallen sharply as a result. Still, business travel remains sluggish and new COVID variants are spreading, threatening the hotel industry’s recovery.

The GSE forecasts $4 trillion in production this year because refinance activity is stronger than expected.