Moe loan principal is lost when bank servicers foreclose on subprime mortgages than when nonbank servicers foreclose; Moody’s Investors Service attributes this to longer foreclosure timelines imposed by regulators.
More From Asset Securitization Report
End of FHA pandemic relief to kick off wave of foreclosures
The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.
Newrez faces $4.2M penalty for servicing violations
Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.
Basel reproposal’s impact on non-bank mortgage lenders
A first look at the capital plan suggests it moves the real estate finance industry closer to changes it lobbied for, but the devil may be in the details.
More banks take hits from auto lender’s bankruptcy
Origin Bancorp, Renasant Bank and Triumph Financial are the latest financial institutions to report exposure to the bankrupt auto lender Tricolor, joining a list that includes Fifth Third, Barclays and JPMorganChase.
Why credit union-bank mergers have hit a lull
Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.
