Servicing

Levels of home equity in seriously delinquent loans have fluctuated but today there's still a sufficient amount to help many access foreclosure alternatives, Intercontinental Exchange said.

The incentives are part of a broader set of Federal Housing Administration servicing changes for Home Equity Conversion Mortgages that also offers some new options for procedures.

The trend exists in all past-due categories for subprime mortgages, but the numbers are still below levels seen just before the pandemic, Vantagescore found.

To date, all of the lawsuits accuse the servicer of failing to secure and safeguard customers personal identifiable information.

The case is the second filing in West Virginia this year involving similar fees, as courts and regulators nationwide look to crack down on the servicing practice.

Stress tests suggest systemically important depositories could weather current risks. Meanwhile, single-family arrears remain low, but that business could be impacted.

Initial industry reactions to the redrafted strategy for reducing distressed borrower payments in a higher rate environment were largely positive.

The Department of Housing and Urban Development's inspector general notes soaring inflation and a rapid increase in interest rates as factors negatively impacting nonbanks and heightening risk for the government guarantor.

News reports of the negative impact to borrowers from the partial claims program's discontinuation, and a letter from Senate Democrats, appear to have prompted the statement.

Only 65.8% of surveyed households said they would be able to come up with $2,000 if an unexpected need arose within the next month.