Foreclosures fall in July but starts rise in five states: Attom
With the moratorium still in place, mortgage foreclosure activity fell 83% in July compared to the year before and 4% from June, according to Attom Data Solutions.
Loss mitigation
As mortgage forbearance rate continues to decline, MBA advises caution
The number of loans going into coronavirus-related forbearance fell for the seventh straight week, but the Mortgage Bankers Association predicts the rate will increase if the number of coronavirus cases continues to rise.
Mortgage forbearance rate continues to decrease, but at a slower pace
The number of loans going into coronavirus-related forbearance dropped for the sixth consecutive week, as the growth rate fell 6 basis points between July 13 and July 19, according to the Mortgage Bankers Association.
Mortgage forbearance rate takes biggest fall yet: MBA
The number of loans going into coronavirus-related forbearance dropped for the fifth straight week, as the growth rate plummeted 38 basis points between July 6 and July 12, according to the Mortgage Bankers Association.
Foreclosures hit a 15-year low, but could spike soon: Attom
A strong housing market prior to the pandemic and the subsequent coronavirus-related moratorium helped to pull foreclosure activity down to historic lows in the first half of 2020, though that could all change soon, according to Attom Data Solutions.
Mortgage forbearance rate tumbles almost 3x from week before: MBA
The number of loans going into coronavirus-related forbearance fell for the fourth consecutive week, as the growth rate plummeted 21 basis points between June 29 and July 5, according to the Mortgage Bankers Association.
Biggest decline in new mortgage forbearances yet logged
The number of loans going into coronavirus-related forbearance dropped for the third consecutive week, as the growth rate fell 8 basis points between June 22 and June 28, according to the Mortgage Bankers Association.
CFPB gives mortgage servicers relief to help struggling homeowners
A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.
While total forbearances decline, nonagency plans rise
Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.
Mortgage forbearance growth rate comes to near halt: MBA
The number of loans going into coronavirus-related forbearance ground down to a growth rate of 2 basis points between June 1 and June 7, according to the Mortgage Bankers Association.
500K homeowners could be in danger of foreclosure: Black Knight
About 9% of government-insured loans in forbearance have low equity, which could hamper post-forbearance servicing.
Number of borrowers in forbearance drops from last week: Black Knight
But there was an increase in private-label mortgages in forbearance.
How lenders are preparing for a wave of loan modifications
With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.
CFPB offers templates for banks, servicers to seek ‘no-action’ letters
The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.
Mortgage forbearance growth continues, but curve flattens
Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.
FHFA extends Fannie and Freddie mortgage payment deferral program
Eligible borrowers can add the forborne payments to the end of their loan term.
CFPB gets earful from consumers about mortgage servicers
Complaints to the bureau hit an all-time high in April. More than one in five said servicers wouldn't grant deferrals, forced borrowers into forbearance or violated other requirements of the coronavirus relief law.
Distressed job market pushes mortgage forbearance requests higher
The total coronavirus-related mortgages in forbearance grew by 55 basis points, in lockstep with rising unemployment claims, according to the Mortgage Bankers Association.
State attorneys general urge FHFA, HUD to expand mortgage payment help
The bipartisan coalition of AGs said homeowners should be allowed to wait until the end of a loan term to make payments they skipped because of the coronavirus.
Banks see coronavirus-related forbearance requests triple in 2 weeks
Surging unemployment from COVID-19 shutdowns brought a rapidly rising tide of forbearance requests, according to the Mortgage Bankers Association.
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