Majority of seriously delinquent mortgages have 20% equity
Levels of home equity in seriously delinquent loans have fluctuated but today there's still a sufficient amount to help many access foreclosure alternatives, Intercontinental Exchange said.
Default management
Mortgage distress up 90% this year, counseling provider finds
The withdrawal of pandemic housing relief and high home prices have heightened consumer strain, according to nonprofit Money Management International.
Dan Fuss shuns CLOs in his funds as Fed can’t save everything
“The Fed has made it clear that they don’t want a liquidity problem in the Treasury market or the higher-grade corporate market,” Fuss said. “They cannot, unfortunately, underwrite lending in the private markets.”
J.C. Penney makes missing loan payment to stave off debt default
J.C. Penney Co., the department-store chain that’s been negotiating with creditors on a plan to restructure in bankruptcy court, made good on a missing loan payment and said it’s still considering solutions to its crushing debt load. The company paid about $17 million of interest that was due May 7 on its senior secured term […]
Foreclosure activity plummets while streak of declines ends
Foreclosure activity fell 21% in July compared to a year ago and rose 6% from June after twelve consecutive months of declines, according to Attom Data Solutions.
Servicers treating government shutdown like a natural disaster
As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages.
Ginnie Mae’s digital mortgage securitization pilot likely in 2019
Ginnie Mae is looking to start a pilot program to securitize digital mortgages as early as 2019, but issuers would not be able to commingle loans using traditional paper files in those deals.
Latest Freddie risk-transfer offering features $983m in RPLs
The transaction would be the third under Freddie's Seasoned Loan Structured Transaction (SLST) program.
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Glen Fest
Replacing HARP creates wrinkle in Fannie, Freddie risk-sharing deals
Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.
