Serious mortgage delinquencies remain high as overall rate declines
Servicers could be dealing with approximately 1.8 million distressed properties when the latest forbearance extension ends in June, Black Knight said.
Delinquencies
Biden extends mortgage forbearance and foreclosure protections
While the Mortgage Bankers Association hailed the move, some experts say it could negatively impact housing inventory.
Mortgage delinquencies fall to a pandemic low
Gains in consumer financial stability helped to decrease the rates of distressed home loans, but job creation is needed to make recovery sustainable, a CoreLogic report found.
Share of impaired non-QM loans fell to pandemic low in December
However, the share of new impairments increased, likely as a result of the high concentration of these loans given to self-employed borrowers.
Slowing mortgage forbearance improvement sets up recovery challenges
The CARES Act-related forbearances could be “lulling us into a false sense of security” as 12-month expirations approach, according to Black Knight.
Homeowners association identifier tool aims to mitigate lender risk
Black Knight’s product is designed to assist mortgage lenders in performing due diligence while also preventing heightened risk of foreclosure losses.
Late credit card payments at historically low levels in U.S.
U.S. credit card delinquencies reached record-low levels in 2020, as Americans took advantage of stimulus checks and adjusted their spending habits, according to a new report.
S&P: CMBS issuance to rebound to $70B after 45% drop in 2020
Declining month-over-month delinquency levels and the rollout of COVID-19 vaccinations potentially give hope to more normalized economic activity.
By
Glen Fest
Hotel mortgage delinquencies rise in December, but retail improves
Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.
Weekly Wrap: Strong 2020 finish for C-PACE boosts 2021 outlook
Deals, trends and research in structured finance and asset-backed securities for the week of Dec. 31-Jan.7
Mall of America gets modified terms on $1.4 billion mortgage
The largest U.S. shopping center became delinquent on its debt last year after its owner Triple Five Group began skipping mortgage payments, citing hardships from the COVID-19 pandemic.
Kroll: CMBS delinquencies fell for sixth straight month
While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.
By
Glen Fest
2021 Outlook: Will more CMBS borrowers choose to turn in the keys?
Reports indicate distressed owners would rather surrender their hotel or retail properties instead of negotiate workouts on delinquent loans as the pandemic spread carries on.
By
Glen Fest
Forbearances climb for third week in a row
With limited plan removals due to the holidays, mortgages in coronavirus-related forbearance rose by 15,000, according to Black Knight.
Foreclosures drop to new all-time low in November
About 4,400 loans started the foreclosure process in November, alongside 176,000 mortgages in active foreclosure.
Holiday season’s COVID-19 spread leads to climbing forbearances
With infection rates rising and unemployment claims increasing since Thanksgiving, mortgages in coronavirus-related forbearance rose by 37,000 last week, according to Black Knight.
‘Seriously delinquent’ mortgages remain elevated, OCC says
The percentage of seriously delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter.
Spiking COVID cases lead to increase in new forbearance starts
While 12,000 mortgages exited forbearance, the most borrowers entered forbearance protection in a week since early September, according to Black Knight.
Forever-empty offices and malls may mean pain for CMBS investors
The more-than-$550 billion market for bonds backed by U.S. commercial mortgages may face losses even after promising Covid-19 vaccines become widespread, as key parts of the real estate market may not return to full strength anytime soon.
Citi compiles bevy of ‘dirty’ currents in next RPL deal
Citigroup's realty arm is sponsoring a $1.06 billion RMBS of highly seasoned mortgage loans with troubled histories. All of the loans were acquired via a Fannie whole-loan auction.
By
Glen Fest
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