Forbearance rates dropped below 7% for the first time in six months, but the decrease is largely due to the ending of the initial six-month term of forbearance granted by the legislation, according to the Mortgage Bankers Association.

Record-low interest rates, high origination volumes and social distancing created a perfect storm for mortgage fintechs like SnapDocs and LoanSnap to score a cash infusion.

What Jason Gardner, founder and CEO of Marqeta, has learned leading a 450-person fintech from home.

The metro areas surrounding New York, Washington, Philadelphia and Baltimore face the highest risk of impact from the pandemic based on home affordability, equity and foreclosures.

The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks' capital investment and hiring, observers say.

The industry has long talked about embracing digital technology — but the time for talk may be over.

GSE mortgages in forbearance fell for the 17th straight week, spearheading the overall downtrend, according to the Mortgage Bankers Association.

Over 3.6 million borrowers sit in coronavirus-related forbearance with portfolio and private-label securitized loans driving the week's increase, according to Black Knight.

Whether low rates will continue to outweigh health and employment concerns for millennials and Generation Z remains to be seen.