Servicing

Other investors could step into the breach as depositories depart, and the strain on nonconforming borrowers might not be that bad, recent forecasts suggest.

Claims from a more recent storm that caused some overlapping property damage are also mounting, according to the Federal Emergency Management Agency.

The government bond insurer, an arm of the Department of Housing and Urban Development, confirmed no borrowers were impacted by the transfer of servicing from the bankrupt Reverse Mortgage Funding.

The servicer is alleged to have violated state regulations between 2016 and 2020 affecting 57 homeowners with federally backed loans.

The past 12 months were chock full of impactful changes to the home lending industry but keep an eye on these in particular in the new year.

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.