Servicing

Trends on loans 90 days or more late on their payments reinforce other indicators showing the pandemic-driven growth in late payments is moderating, according to a new CoreLogic report.

Nearly half the country saw foreclosure starts rise year-over-year during the final month of the moratorium, according to Attom Data Solutions.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.

Landlord groups have challenged the policy, arguing that the administration bowed to political pressure even though it knew the eviction freeze wouldn’t pass muster with the courts.

The congresswoman urged the Federal Housing Administration to double the six-month term it offers for more recent forbearance requests.

The company’s $204 million in net income was down from unusual highs seen recently but still historically strong thanks to the balance between its loan channels and servicing operation, representatives said.

Increased purchase lending and added pressure from Fannie Mae and Freddie Mac’s new loan limits should drive the likelihood of borrower misrepresentation.

The company has been making investments in correspondent originations and servicing and “reverse” loans used by borrowers age 62 and up to withdraw home equity.

The numbers in a new Research Institute for Housing America report reinforce other signs that recovery isn’t moving quite as quickly as originally anticipated.

The municipalities are based in New York, which has the highest volume of such properties across the U.S.