Servicing

Three percent of all mortgages were 30 or more days past due on their scheduled payment or in foreclosure in July.

The mortgage company plans to buy some of this servicing and also invest in building out technology and default services, Chairman and CEO Jay Bray told attendees at an industry conference.

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.

While the agency affirmed the bank's current high ratings, it also cited instances of noncompliance, which led to the downgrade.

The month ended with 54,000 less properties for which the borrower was at least 30 days or more late on their payments, Black Knight said.

The Federal Housing Finance Agency's quarterly report said that the government sponsored enterprises prevented a total of 96,952 foreclosures

The Consumer Financial Protection Bureau's latest request for information floats the idea of an "auto-refi" and potentially extending pandemic-related options like forbearance for permanent industry use.

"To talk about 95% of issuers by count being compliant without recognizing that a very large number of issuers hold few MSRs is disingenuous," one industry executive told the chairman of Whalen Global Advisors.

And the rate of distress in second-lien home loans ticked up from the previous month, according to Standard & Poor's Dow Jones and Experian.

Some stakeholders in the mortgage industry are concerned about the late 2023 deadline, but the government bond insurer said most are already prepared, and it'll work with those who aren't.