Tuesday , 26 January 2021

mortgage servicing

Forbearance Requests Rise for Portfolio/PLS Loans, Drop for GSEs

As of January 17, the total number of loans in forbearance totaled 5.38%, representing a small increase from 5.37% the week prior, according to the Mortgage Bankers Association’s most recent Forbearance and Call Volume Survey. The MBA notes that 2.7 million homeowners are in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance decreased to 3.11% …

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Mortgage Delinquencies Fell in December as Moratorium Storm Looms on Horizon

Mortgage delinquencies continued to fall in December, Black Knight’s First Look report shows, but mortgage performance is far from what is was pre-pandemic. What’s more, COVID-19-related forbearance plans and moratoriums are currently masking the pandemic’s true impact on foreclosures and distressed sales. Roughly 6.08% of all loans where in some stage of delinquency, Black Knight’s data show. That’s down 3.9% …

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Share of Mortgages in Forbearance Dropped During Second Week of January

The share of residential mortgages in forbearance decreased to 5.37% of servicers’ portfolio volume as of January 10, down from 5.46% in the prior week, according to the Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey. Roughly 2.7 million homeowners remain in forbearance plans, the MBA estimates. The share of Fannie Mae and Freddie Mac loans in forbearance decreased …

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ATTOM: Foreclosures Low in 2020, But a Backlog Is Awaiting

The Year-End 2020 U.S. Foreclosure Market Report from ATTOM Data Solutions shows that foreclosure filings were reported on 214,323 U.S. properties during the year, which was down 57 percent from 2019 and 93 percent from a peak of nearly 2.9 million in 2010, to the lowest level since tracking began in 2005. Those properties with foreclosure filings (default notices, scheduled auctions …

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CoreLogic Expects a ‘Reduced Flow of Homes’ to Delinquent Status

CoreLogic’s monthly Loan Performance Insights report for October shows that on a national level, 6.1% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure). This represents a 2.4-percentage-point increase in the overall delinquency rate compared to October 2019, when it was 3.7%. Notably, serious delinquency is over three times that of October 2019, …

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Chetan Patel: Navigating the Coming Loss Mitigation Wave

PERSON OF THE WEEK: As the first rounds of forbearance periods come to an end, servicers will be met with rising numbers of borrowers who are still suffering financially and trying to determine what their options are – or perhaps not trying at all, in the case of borrowers who may be ghosting their servicers by not making payments without …

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Percentage of Loans in Forbearance Ends the Year Flat

The Mortgage Bankers Association’s most recent Forbearance and Call Volume Survey shows that the total number of loans now in forbearance remained unchanged relative to the prior week, at 5.53%, as of Dec. 27. According to MBA’s estimate, 2.7 million homeowners are in forbearance plans. The share of Fannie Mae and Freddie Mac loans in forbearance decreased to 3.24% – …

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Foreclosure Activity Hits Record Low as Moratoriums Remain in Place

Despite seasonal headwinds, mortgage delinquencies improved for the sixth consecutive month in November, falling to 6.33% of all loans, down from 6.44% in October, according to Black Knight’s First Look report. That’s down from a peak of 7.8% in May. Still, loan performance has a long way to go before it reaches pre-pandemic levels. Total delinquencies are up nearly 80% …

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