Servicing

While distressed mortgage rates crept down overall, serious delinquencies still tripled year-ago rates in September, according to CoreLogic.

The three companies agreed to pay a total of $74 million in remediation.

The surge of COVID-19 cases slowed economic recovery and hampered improvements in the forbearance rate, according to the Mortgage Bankers Association.

The complaint dates back to 2014 state regulator examinations when the Dallas company was known as Nationstar.

Lower cure rates and possible rises in foreclosures and claims could force these companies to raise capital next year, Fitch Ratings said.

The economic fallout from COVID-19 has highlighted systemic concerns about commercial real estate exposure, business debt and short-term wholesale funding, the Financial Stability Oversight Council said in an annual report.

The results are in the middle of the range provided before the company went public in October.

The Federal Housing Finance Agency said that Fannie Mae and Freddie Mac would extend the measures until “at least” Jan. 21, 2021.

Troubled Veteran’s Administration “no-bid” loans could bankrupt servicers in the near future, says Morgan Snyder of CAllc Research Publications.

Even government-sponsored enterprise loans, which have seen forbearance rates drop for 24 weeks in a row, saw a slight uptick.