Servicing

Pretax operating results were down by $79 million from the previous quarter, but the company estimates that by the end of the year, servicing income should be more than four times higher than the second quarter’s results.

Alternative data verifications used in non-qualified mortgage underwriting have increasingly been used by government-sponsored enterprises in response to expansive Biden-era housing goals, volatile rates and evolving technology.

The company formerly known as UniversalCIS Credit Plus, which offers credit report services and appraisal technology, adds a new vertical to offer its mortgage lender clients.

The increase in late payments ends three consecutive months of declines to record lows, but the uptick could be an aberration.

Low-income housing tax credits that incent the creation of affordable apartment units have provisions that make buildings less susceptible to damage from natural disasters, but they’re not consistent, Freddie Mac found.

Historical statistics examined by Standard & Poor’s suggest the two servicing trends, which widespread use of forbearance intensified and highlighted in the past two years, may have some staying power.

The jump for second mortgages and bank cards was even more pronounced, according to indices published by Standard & Poor’s and Experian.

Others in the mortgage industry have been known to take a page from the company’s innovative digital strategies, but using Truebill’s tech as a countercyclical strategy for recurring revenue and lead generation may be too pricey for most lenders to imitate.

Inflation and higher interest rates are hurting distressed borrowers, but low unemployment, remaining forbearance and loss mitigation options are still blunting their impacts, recent loan-performance numbers suggest.

Delinquencies are likely to rise if both interest rates and inflation continue their upward movements, a DBRS Morningstar report said.