Servicing

Fears that foreclosures and abandoned property rates could spike once Covid-19 moratoriums ended have not come to fruition, Attom Data Solutions said.

The Federal Housing Administration's clarification addresses interpretations of an 8th U.S. Circuit Court of Appeals decision that increased industry costs.

Unusual spikes in property taxes and insurance in many areas are causing servicing concerns that mortgage companies may not be used to managing.

Amid numerous late payment improvements, foreclosure sales and prepayments ticked up.

But some of the financial damage lenders have on mortgage originations comes from their own disclosure errors, Intercontinental Exchange added.

Professionals also must grapple with the issue of wanting liquidity on assets in an era of low production.

The Federal Housing Administration also instituted a new language preference requirement that servicers must observe in transfers.

The move may help address nonbank liquidity risks highlighted in a recent FSOC report, Sam Valverde, acting president, told attendees at an industry meeting.

The announcement, made at the Mortgage Bankers Association's Secondary and Capital Markets Conference, underscores Ginnie Mae's role at the forefront of digitization efforts in the capital markets space.

A recommendation to give Ginnie Mae expanded authorities is drawing focus in the reactions to a Financial Stability Oversight Council report on nonbank risks.