Servicing

Historical statistics examined by Standard & Poor’s suggest the two servicing trends, which widespread use of forbearance intensified and highlighted in the past two years, may have some staying power.

The jump for second mortgages and bank cards was even more pronounced, according to indices published by Standard & Poor’s and Experian.

Others in the mortgage industry have been known to take a page from the company’s innovative digital strategies, but using Truebill’s tech as a countercyclical strategy for recurring revenue and lead generation may be too pricey for most lenders to imitate.

Inflation and higher interest rates are hurting distressed borrowers, but low unemployment, remaining forbearance and loss mitigation options are still blunting their impacts, recent loan-performance numbers suggest.

Delinquencies are likely to rise if both interest rates and inflation continue their upward movements, a DBRS Morningstar report said.

These results are likely to be mirrored by the nonbank lenders when they report earnings, said Keefe, Bruyette & Woods.

New starts in the first half of the year came in 19% higher than early 2020, but primarily affected long-delinquent properties protected by moratoriums.

The company will also shed real estate, reduce marketing expenses and restructure its operations as part of a three-year plan.

The government-sponsored enterprises divested themselves of the largest share of these loans since they first began selling them in 2014, a Federal Housing Finance Agency report found.

Intercontinental Exchange's move to acquire Black Knight and Lower's purchase of Hamilton Home Loans are just some of the latest developments to monitor in the space.