Servicing

The overall share of distressed mortgages fell in every state, but the effects of Hurricane Ian led to a small uptick in early-stage late payments compared to one year ago, CoreLogic said.

Condominiums have long been a staple for anyone seeking a slice of Florida real estate on a budget, but safety legislation that passed earlier this year in the wake of the deadly Surfside building collapse could plunge the condo market into turmoil.

Automation similar to that used by appraisers working with homeowners during the pandemic can be used by inspectors getting information about damage from weather events and disasters too.

The company's recently purchased subsidiary, Blue Water Financial, will provide tools for asset pricing, transfer, due diligence and other tasks to ease secondary market trading functions.

Fannie Mae also reportedly took assets from its small senior loan program that were part of RMF's book of business.

Foreclosure starts also increased by over 19% between October and November but remain below pre-pandemic levels.

Loans with payments late by a year or more were the biggest sub-category within the distressed portfolios a year ago, but now mortgages that've been late for 30-59 days are.

The Federal Housing Administration cited concerns that included the seasonal "tripledemic" and staff shortages at servicers.

The latest fluctuations in some subsets of the Mortgage Bankers Association's numbers suggest it's getting a little more difficult for entry-level buyers to keep paying their loans.

The additions in 2022 put it in the ranks of the top 25 players in the business, according to the company.