Servicing

However, the median monthly expense associated with financing is still lower than that for a lease.

Due in part to pandemic-related forbearance, GSE portfolio loans with year-plus delinquencies hit the highest point seen since the Federal Housing Finance Agency started tracking them in 2015.

The Housing Policy Council added its voice to previous requests for federal officials to provide a longer-term comment period on a draft categorization system for government mortgages.

The regional banks are moving past old-school collection calls, instead using emails, texts and on-screen messages to urge delinquent customers to repay debt. Modern communications are said to be more efficient and in keeping with Consumer Financial Protection Bureau debt-collection rules set to take effect Nov. 30.

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.