Servicing

The move suggests the government bond insurer doesn’t expect to see loan performance return to normal levels until next summer.

Notable drops were seen across all investor categories, led by declines in portfolio and private label loans.

The industry veteran will be responsible for a division with a mortgage portfolio of almost $1.1 trillion in unpaid balances.

The Office of the Comptroller of the Currency slammed the scandal-plagued bank for violating a 2018 consent order and for problems with loss mitigation practices in its home lending division. The bank will also be restricted from acquiring certain residential mortgage servicing rights.

While the monthly numbers are higher, they remain a far cry from pre-pandemic levels, suggesting it could be awhile before they return to normal.

Property losses piled up in Mid-Atlantic and New England states as the tropical storm devastated the East Coast, according to CoreLogic.

But distressed loans released from backlogs by discontinued foreclosure bans could drive numbers higher eventually, depending on the strength of the housing market

About 400,000 plans are scheduled to drop out in September based on the limits afforded by the CARES Act.

Roughly $8 billion to $12 billion of the residential losses in the Louisiana area could be insured, according to CoreLogic. The storm’s more recent Northeast impact has not yet been calculated.

From 2016 to 2019, the Long Island man stole from Home Point Financial, LoanDepot and United Wholesale Mortgage, and faces 30 years in prison.