Distressed Mortgages

Completed foreclosure sales reach their highest level since the second quarter of 2023, with a 20% quarter-to-quarter increase, Auction.com said.

The Wisconsin class action would retroactively award relief to some former homeowners and comes two years after a Supreme Court ruling in a similar case.

Sellers have roughly a month to bring transactions involving properties from the "claims without conveyance of title" and REO programs in line with the changes.

The way mortgage firms address distressed military borrowers will become less regimented as the Veterans Affairs Servicing Purchase program gets phased out.

Mortgage delinquency rates improved during the month, but the share of borrowers late 90 days or more grew as FHA credit quality deteriorated.

The latest foreclosure report adds to evidence from housing research groups that economic difficulties are beginning to impact a rising number of homeowners.

These mortgages held by low credit score borrowers, made up 90% of the rise in the number of loans 30 days or more late on payments, ICE Mortgage Tech said.

Nationally, starts are higher even when seasonal differences are accounted for and in some areas distress is far above the U.S. average, Attom found.

The jump, which represents an ICE Mortgage Technology survey high, reflects the past cost of natural disasters like hurricanes in the Southeast.