Small landlords are suffering most in rental sector: Harvard confirms
The center’s annual study shows the extent to which larger multi-unit properties are insulated from distress.
Servicing
2021 predictions for the secondary market, mortgage servicing rights
The sector’s leaders are hoping for better in 2021, while not forgetting lessons learned about the market’s risks in 2020.
Delinquencies fall in Q3 but ‘no guarantee it will continue’
The overall mortgage delinquency rate improved in the third quarter as the economy got healthier while late-stage delinquencies hit a decade high, according to the Mortgage Bankers Association.
Rise in mortgage foreclosures reflects unemployment, COVID-19 woes
While moratoria keep foreclosures low compared to last year's rates, October activity jumped 20% from September, according to Attom Data Solutions.
Equity-rich homes outnumber those seriously underwater nearly 5 to 1
Growing equity levels increased the share of equity-rich and pulled borrowers out from underwater in the third quarter, according to Attom Data Solutions.
Commercial mortgage originations in 3Q way down from one year ago
And an uptick from second-quarter numbers is attributed to seasonality rather than any upswing in the economy.
Forbearance rate hits seven-month low
The forbearance rate improved to the a level not seen since early April, but getting back to pre-COVID levels will require employment gains or additional government stimulus measures, according to the Mortgage Bankers Association.
Mr. Cooper safeguards its profits with Ginnie Mae-related financing
The origination boom generated another profit for the company in the third quarter, when also it obtained a novel source of liquidity to support its servicing operations.
Opinion Election won’t impact mortgage industry like CARES Act problems will
How we resolve millions of delinquent mortgages due to COVID is the only question that matters.
Christopher Whalen
Whalen Global Advisors LLC
The slowing decline of forbearances reflects an uneven recovery
A booming housing market contrasts with a slow-to-improve job market, making for lopsided improvement in the number of troubled mortgages, according to numbers from the Mortgage Bankers Association.
Mortgage servicers seek to reach distressed borrowers ‘ghosting’ them
As of the end of July, there were more than 1 million past-due mortgages not in forbearance plans, and the majority likely would have qualified for forbearance under the CARES Act.
Ocwen slips back into the red for the third quarter
Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.
States scramble to issue mortgage, rent aid before year’s end
A total of 34 states have offered coronavirus-related rental or mortgage assistance, much of which is funded by the CARES Act, according to the National Council of State Housing Agencies.
Steep drop in forbearance rates logged as loans exit CARES Act plans
The overall forbearance rate was under 6% for the first time since April as another large swath of loans fell out of CARES Act coverage, according to the Mortgage Bankers Association.
Weekly Wrap: Mortgage originations to top $4T for the first time ever
This year will top the total volume generated in the housing boom year of 2003. Meanwhile, next year's 30-year FRM is predicted to stay at 2.8%.
Borrowers missed $19.4B in third-quarter mortgage payments
As financial distress mounted, 12.4% of mortgagors missed payments across the second and third quarters of 2020 — and it could get worse, according to a study from the Mortgage Bankers Association.
July’s 120-day delinquencies doubled Great Recession’s peak
While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.
Big drop in forbearances credited to CARES Act-related plans expiring
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.
Fannie and Freddie loans drive forbearance rate’s steady descent
GSE mortgages in forbearance fell for the 17th straight week, spearheading the overall downtrend, according to the Mortgage Bankers Association.
‘Enigmatic’ CFPB chief could drop more surprises in a second Trump term
Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.
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