Servicing

As financial distress mounted, 12.4% of mortgagors missed payments across the second and third quarters of 2020 — and it could get worse, according to a study from the Mortgage Bankers Association.

Mortgage companies contended with an average of 1,316 fraud attempts per month in 2020, up from 1,280 in the previous year, according to the latest study by LexisNexis Risk Solutions.

The company expects to get between $17 and $19 per share.

The agreement with Florida ends the saga that began in April 2017, when several states sued the company. However, the CFPB's case filed at the same time remains active.

While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.

Forbearance rates dropped below 7% for the first time in six months, but the decrease is largely due to the ending of the initial six-month term of forbearance granted by the legislation, according to the Mortgage Bankers Association.

Expected to make landfall as a Category 2 storm, Hurricane Delta's surge is estimated to cause damage to 293,685 residential properties across Alabama, Louisiana, Mississippi and Texas, according to CoreLogic.

Mortgage industry hiring and new job appointments for the week ending Oct. 9.

If mortgage lenders need to learn anything from the pandemic, it is relying on a single source for any service could disrupt their activities.

MCS isn’t the only distressed mortgage services entity gaining interest from investors as poor economic conditions threaten more hardships for homeowners.