Housing Wire

AUGUST 22, 2023

The total number of loans now in forbearance decreased by 5 basis points to 0.39% of servicers’ portfolio volume in July from 0.44% May, according to the Mortgage Bankers Association ’s (MBA) monthly loan monitoring survey. Mortgage servicers have provided forbearance to about 7.9 million borrowers since March 2020.

Mortgages 312

Mortgages Staging Loans Investor 312

Housing Wire

AUGUST 3, 2022

Distressed mortgages dating back to the height of the pandemic are expected to fuel a jump in foreclosure activity over the next 12 months, although the foreclosure rate is still expected to remain below the pre-pandemic historical average, a new report from Auction.com contends.

Equity 454

Equity Mortgages Sales Industrial 454

Housing Wire

OCTOBER 31, 2022

Over the weekend, The Wall Street Journal brought up this point — that the Fed is mindful that household balance sheets are much better now due to the excess savings built up during the COVID recovery and they might need to raise rates again or keep them high to trigger their job loss recession to fight inflation. Today, we are at 1.25

Bankruptcy 513

Bankruptcy Lending Equity Mortgages 513

Housing Wire

APRIL 17, 2023

As the COVID-19 national emergency draws to a close, the forbearance rate has decreased month over month, according to a report from the Mortgage Bankers Association (MBA) on Monday. The share of Fannie Mae and Freddie Mac loans in forbearance decreased 2 basis points to 0.26%. “As The survey showed that 33.8%

Closing 350

Closing Mortgages Loans Staging 350

Housing Wire

JUNE 29, 2023

Most borrowers who had a mortgage forbearance in March 2021, including disproportionately impacted borrowers of color, were either current or closed as of March 2023. mortgage borrowers to enter public or private forbearance programs, which temporarily paused their mortgage payments.

Closing 351

Closing Mortgages Loans As-is 351

Housing Wire

JULY 1, 2022

Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. Most industry observers predicted that the national foreclosure rate would rise once foreclosure moratoriums ended on July 31, 2021. compared to 94.2%

Banks 383

Banks Mortgages Principal Short sale 383

Housing Wire

DECEMBER 7, 2020

COVID-19 threw the economy for a loop in 2020. Many experts, including the Mortgage Bankers Association, pondered the possibilities of a recession, saying it was absolutely a possibility. But they never could have guessed that recession would be due to COVID-19. What will happen with COVID-19?

Title 527

Title Industrial Mortgages Technology 527

Housing Wire

MAY 28, 2021

As borrowers impacted by COVID-19 continue to exit mortgage forbearance, now is the time for lenders and servicers to be proactive in their borrower outreach to reduce foreclosure volume. According to ATTOM Data Solutions, foreclosures have increased by 9% in the first quarter of 2021. “Times are changing.

Principal 426

Principal Loans Investor Mortgages 426

Housing Wire

JULY 17, 2023

The continuous development of loss mitigation tools and practices in the mortgage industry will play an essential part in preventing future foreclosures, but additional safety nets — particularly for those mortgage customers who belong to historically disadvantaged populations — will play a critical role in thinning the racial wealth gap.

Mortgages 330

Mortgages Finance Development Staging 330

Housing Wire

SEPTEMBER 11, 2023

HousingWire: According to ATTOM Data Solutions‘ latest foreclosure market report, bank repossessions climbed 9% in the first half of 2023 compared to the first half of 2022. Michael Chew: First, consider the first half of 2022; some areas were still dealing with or just coming out of pandemic -related foreclosure moratoriums and restrictions.

Technology 373

Technology Loans Design Sales 373

Housing Wire

NOVEMBER 8, 2023

The answer is no, and for that, we must thank the 2010 qualified mortgage (QM) rule, which has high standards for borrower credit scores and the ability to repay the loan. And I’m not even talking about the over 40% of homes that don’t have a mortgage; I am just talking about homeowners who are paying a mortgage.

Fixed-rate mortgage 410

Fixed-rate mortgage Bankruptcy Loans Mortgages 410

Housing Wire

MARCH 30, 2023

One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages. It means certain mortgage products might not be offered, FICO score requirements might be raised, and it can mean pricing for certain loans goes up to account for the risk. housing market.

VA loan 486

VA loan Loans Banks Mortgages 486

Housing Wire

MARCH 9, 2023

The rule allows mortgagees to increase the maximum term of an FHA-insured mortgage loan modification from 360 to 480 months following a default. The 40-year loan modification can assist borrowers in avoiding foreclosure by spreading the outstanding mortgage balance over a longer period, thereby making their monthly payments more affordable.”

Loans 366

Loans Real-estate owned Mortgages Development 366

C4D Crew

JULY 9, 2020

Thankfully the federal government and housing agencies, as well as mortgage lenders and servicers, have taken action to protect homeowners from foreclosure during this crisis. I’ve Missed Mortgage Payments and am Afraid of Mortgage Foreclosure. If foreclosure is imminent, it won’t come as a surprise to you.”

Mortgages 52

Mortgages Loans VA loan Bankruptcy 52

Housing Wire

NOVEMBER 10, 2021

The federal government’s top regulators announced Wednesday that they are collectively resuming mortgage servicing supervisory and enforcement practices in full, ending certain flexibilities it offered mortgage servicers at the onset of the Covid-19 pandemic.

Mortgages 389

Mortgages Loans Development Marketing 389

Housing Wire

DECEMBER 20, 2021

Two federal regulators said on Monday that they will double down on scrutiny of mortgage servicers, following complaints of housing rights violations made by military families and veterans. The CFPB will be closely watching mortgage servicers and will hold them accountable for illegal tactics perpetrated against military families.”.

Mortgages 379

Mortgages Loans Banks Residential 379

Housing Wire

FEBRUARY 8, 2022

He is used to it by now, but the problem has only gotten worse since the beginning of the COVID-19 pandemic. Goldstone is an executive at a mortgage servicer company trying to reach out to homeowners. “We million forbearance programs throughout the COVID-19 pandemic, reaching 1.5% We know who the borrowers are.

Loans 341

Loans Pre-approval Mortgages Principal 341

Housing Wire

DECEMBER 23, 2021

The delinquency landscape continues to improve on a monthly basis, with the total delinquency rate in the nation falling to 3.59% in November, according to Black Knight ’s November mortgage monitor published this week. 30, only 994,000 mortgage holders remain in COVID-19 related forbearance plans, representing 1.9%

Mortgages 394

Mortgages VA loan Loans Industrial 394

Housing Wire

JANUARY 9, 2023

Foreclosure auction buyers on the Auction.com platform purchased at an average discount of 29% below estimated “as-is” market value in the fourth quarter of 2022, up from 23% in the third quarter and up from a pandemic low of 9% in the first quarter of 2021. This is evident in foreclosure auction sales rate data from the Auction.com platform.

Development 427

Development Sales Marketing As-is 427

Housing Wire

NOVEMBER 23, 2020

Auction.com ‘s Distressed Market Outlook report for the fourth quarter shows a pick-up in demand for distressed housing, with a 24% increase in completed foreclosure auction volume in September. In addition, the foreclosure sales rate is at a seven-year high, and REO bids-per-asset are at an all-time high. .

Investor 528

Investor Sales Mortgages Industrial 528

Housing Wire

MARCH 14, 2022

The Consumer Financial Protection Bureau today said that they are closely monitoring how servicers conduct themselves to help borrowers avoid foreclosures. As of March 1, 2022, 768,000 mortgage borrowers remain in active forbearance, the CFPB wrote. At the time, the bureau promised aggressive action.

Closing 405

Closing Mortgages Loans Industrial 405

Housing Wire

NOVEMBER 11, 2020

Despite foreclosure moratoria holding steady in several states, a recent foreclosure report from ATTOM Data Solutions revealed a total of 6,042 U.S properties began the foreclosure process in October. As for foreclosure filings – including default notices, scheduled auctions or bank repossessions – approximately 11,673 U.S

Banks 464

Banks Real-estate owned Staging Mortgages 464

Housing Wire

JUNE 10, 2022

Nonbank mortgage lender and servicer Ocwen Financial Corp. and its subsidiary PHH Mortgage agreed to pay more than $665,000 to settle multiple lawsuits filed last year by three cities in New York state regarding the maintenance of zombie properties. billion, according to Inside Mortgage Finance. In 2019, then-Gov.

Mortgages 359

Mortgages Inspection Banks Residential 359

Housing Wire

APRIL 5, 2021

The Consumer Financial Protection Bureau (CFPB) released a notice of proposed rulemaking on Monday that would amend Regulation X to provide a special pre-foreclosure review period prohibiting servicers from starting foreclosures until after December 31, 2021. The Bureau said that nearly 2.1 The Bureau said that nearly 2.1

Short sale 544

Short sale Loans Mortgages Sales 544

Housing Wire

AUGUST 2, 2022

Foreclosures cost a lot of money. A conservative estimate of the financial toll on the borrower, the creditor, the guarantor and the surrounding community shows a foreclosure can cost upwards of $65,000. Researchers at the Urban Institute argue that forbearance should be the first step in the standard foreclosure-prevention toolkit.

Investor 304

Investor Finance Equity Loans 304

Housing Wire

JANUARY 4, 2021

The end of 2020 won’t necessarily mean saying goodbye to the favorable 2% mortgage rates that hit historically low levels 16 times over the past 12 months. Low mortgage rates fuel the demand for valuation and settlement services. Presented by: VRM Mortgage Services. “We all are looking forward to an end to COVID.

Mortgages 539

Mortgages Finance Loans As-is 539

Housing Wire

JUNE 3, 2021

While Covid-19 cases are declining and many homeowners continue to emerge from forbearance, many renters, who are unable to benefit from rising home prices, have not financially recovered from the pandemic,” said Calabria. How proactive communication can reduce the risk of foreclosure. Presented by: Computershare Loan Services.

Principal 475

Principal Finance Loans Equity 475

Housing Wire

FEBRUARY 24, 2021

For the first time since March 2020, the national mortgage delinquency rate fell below 6% to 5.9% million borrowers remain 90 or more days past due though are not yet in foreclosure. Thanks to widespread moratoriums, borrowers have managed to avoid eviction and foreclosures for some time now. Presented by: FICS.

Mortgages 427

Mortgages Equity Loans Development 427

Housing Wire

APRIL 19, 2021

COVID-19 has starkly highlighted housing inequities across the country, so while the underlying issues haven’t changed, our level of urgency around mobilizing must increase,” said Grannemann, vice president of strategic investments for Rocket Community Fund. “No the racial wealth gap is at the core.”.

Industrial 335

Industrial Mortgages Technology Development 335

Housing Wire

MARCH 3, 2022

A growing chorus of mortgage servicers, consultants, and lobbyists support the idea of having forbearance programs as a permanent solution in the industry’s loss mitigation toolkit, rather than only a temporary relief for wide-scale events such as financial crises and pandemics.

Principal 353

Principal Loans Lending Finance 353

Housing Wire

OCTOBER 5, 2020

Following previous natural disaster recovery patterns, mortgage delinquencies are not expected to return to pre-pandemic levels until March 2022, according to a report from Black Knight. Nevertheless, August’s upward tick marked the mildest increase in five months – suggesting 90-day mortgage delinquencies could be nearing their peak.

Mortgages 443

Mortgages Equity Staging Loans 443

Housing Wire

MAY 16, 2022

Servicers’ forbearance portfolio volume dropped in April to a level below 1%, with fewer than half a million borrowers remaining with an active plan, according to the monthly Loan Monitoring Survey conducted by the Mortgage Bankers Association (MBA). During the past 22 months, MBA data revealed that 29.3%

Loans 407

Loans Staging Mortgages Industrial 407

Housing Wire

APRIL 19, 2021

The Consumer Financial Protection Bureau (CFPB) is making good on its threats to police mortgage servicers. The agency sent data requests to mortgage servicers on how they are handling forbearance programs and whether the temporary debt relief is likely to get borrowers back on their feet, unnamed sources told Reuters.

Mortgages 394

Mortgages Loans Industrial Closing 394

Housing Wire

OCTOBER 12, 2021

PNC Bank allegedly breached Fannie Mae ’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments. The post PNC Bank breached COVID-19 payment deferral agreement: suit appeared first on HousingWire.

Banks 341

Banks Principal Loans Lending 341

Housing Wire

SEPTEMBER 30, 2021

The COVID-19 pandemic has caused historic, unprecedented challenges for mortgage servicers. Forbearance deadlines get pushed back seemingly in perpetuity, and an unproven, inconsistent technology infrastructure has the potential to result in a series of foreclosure and loss mitigation crises.

Mortgages 359

Mortgages Technology As-is Industrial 359

Housing Wire

NOVEMBER 16, 2020

COVID-19 is a historically unique event for the mortgage industry. Typically, during a crisis or catastrophic event that impacts the housing industry, you’d see a significant downtick in mortgage originations and an uptick in delinquencies, ultimately leading to foreclosures. P andemic expectations.

Mortgages 356

Mortgages Industrial Closing Loans 356

Housing Wire

MARCH 3, 2022

There are also alternatives to foreclosure such as compromise sales and deeds in lieu of foreclosure. As economic factors continue to affect borrowers and the risk of delinquency rises, mortgage servicers need to be proactive in helping borrowers navigate their situation and loss mitigation options. Presented by: ACES.

VA loan 318

VA loan Pre-approval Principal Loans 318