Servicing

As interest rates fluctuated and purchase volumes increased in the second quarter, mortgage loans were more prone to defaults, according to actuarial and consulting firm Milliman.

Activity in loans insured by the Federal Housing Administration and guaranteed by the Department of Veterans Affairs drove the increase in new requests, according to Black Knight.

The bulk package from an unnamed seller is associated with retail loans generally originated a little over a year ago and purchased by government-sponsored enterprises Fannie Mae and Freddie Mac.

Electronic signatures and remote online notarization can now be used for mortgages that previously were signed in person, subject to certain restrictions.

Bargain-hunting buyers are willing to make a purchase on the courthouse steps or via online sale, according to ServiceLink.

Unpaid balances among distressed loans also dropped by over 10% to under $200 billion.

The company’s servicing operations also reported a quarterly profit, with its portfolio increasing by 20% annually.

The decline in late payments recorded in a trade group survey raise hope that many servicers will bear up under a wave of tighter enforcement coming from regulators.

Mortgage defaults, bank repossessions and auctions rose for the third month in a row, according to Attom Data Solutions.

The number of plans is less than one-fourth of what it was at its pandemic peak, and many are expiring, so the group will replace the weekly measure with a monthly one.