Servicing

The move by the government bond insurer may pave the way for waivers of late fees, forbearance, modifications and foreclosure bans as the U.S. contends with damage from recent hurricanes.

The latter company helped build a platform that served a similar purpose for a nonprofit entity during the Great Recession, and later continued to support an updated version of that technology.

Wind and storm surge damage to residential and commercial properties could reach $47 billion, according to a CoreLogic analysis.

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.