Servicing

Payment suspensions will be utilized for other purposes but it remains to be seen whether its application in the pandemic will permanently broaden servicers' use of the strategy.

This represents a gradual rise in activity, not the tsunami that many feared would take place as COVID-era moratoriums wind down, Auction.com said.

The majority of borrowers cite a national emergency declaration, but the share that do has been dropping as concerns about income, debt and unemployment creep up.

The 51 basis point increase was inevitable after the late payment rate reached a record low in the third quarter, the Mortgage Bankers Association said.

Despite slowing originations, the shift to a purchase-oriented market contributed to growth, while outstanding HELOC amounts also surged to its largest in over a decade, the Federal Reserve Bank of New York found.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

The company had asked that the case be dismissed given its similarity to previously settled claims. It's weighing an appeal.

New starts surged 75% compared to a year ago, but repossessions saw their first decline in one-and-a-half years, according to Attom.

The government-sponsored enterprise expects a "moderate recession" in the first half of 2023.

Median expected growth in household income declined 1.3 percentage point to 3.3% in the January survey, the largest monthly drop in data going back almost ten years, the New York Fed found in a report released Monday.