Mortgage equity report finds fewer homeowners underwater
Rising equity levels lifted borrowers across the spectrum in the second quarter, according to Attom Data Solutions.
Mortgage defaults
Will GOP plan to slash unemployment aid trigger wave of loan defaults?
The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.
Arch MI does its first insurance-linked noted deal of 2020
The mortgage insurer is receiving $528 million of coverage in the event of defaults in a $44 billion loan pool.
Smaller banks have more risk from coronavirus-affected CRE mortgages
For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.
Coronavirus hasn’t halted home sales, but could hurt mortgage payments
A Clever Real Estate survey found a significant share of new borrowers are not making their full payment.
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 […]
5 questions for Radian’s CEO on preparing for an onslaught of defaults
Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.
Stand-alone MIs have strong 1Q, but coronavirus makes the future murky
Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.
Homeowners seeking mortgage payment relief pass 3.8 million
About 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus pandemic.
CMBS delinquency rate sees biggest jump in nearly three years
Delinquencies in U.S. commercial mortgage-backed securities jumped in April, with the economy battered by the coronavirus pandemic.
Ocwen gives liquidity update on potential servicing advances
Ocwen Financial has approximately $749 million of liquidity from various sources to deal with servicing issues arising from the coronavirus, a company press release said.
Home lenders brace for up to 15 million mortgage defaults
Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.
Mortgage insurers should weather defaults from the coronavirus: KBW
The impending wave of loan delinquencies because of the coronavirus hurt private mortgage insurer earnings, but the companies will still have sufficient capital, a Keefe, Bruyette & Woods report said.
Colony Capital chief says commercial mortgages on brink of collapse
Real estate investor Tom Barrack said predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep commercial mortgage borrowers from defaulting.
Fannie Mae completes first two CIRT deals of 2020, moving $1B of risk
Fannie Mae completed its first two Credit Insurance Risk Transfer transactions of 2020, shifting $1 billion of single-family loan credit risk to insurers and reinsurers.
Coronavirus effect on commercial mortgage lates to be determined
Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.
Black Knight creates model to measure CMBS prepayment risk
Black Knight introduced a model to gauge prepayment speeds and credit risk for investors that purchase commercial mortgage-backed securities.
CMBS delinquency rate reaches its lowest point since early 2009
The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.
Fewer underwater mortgages, as values benefit from extended boom
The share of severely underwater mortgages shrunk by over two percentage points compared with a year ago, as these borrowers benefited from the rise in equity levels, Attom Data Solutions said.
Hotel, suburban office outlook iffy for properties backing CMBS
The outlook for hotels and suburban offices is still questionable, but the prognosis for other property types in the securitized commercial real estate market remains fairly strong, according to Moody's Investors Service.
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