Servicing

The payment supplement partial claim the Federal Housing Administration proposed could be effective but not as is, according to the Mortgage Bankers Association and two other groups.

In 2021, Black and Hispanic homeowners were most prone to have suspended payments, but by 2023 they were just as likely to have resumed them as other groups, a study found.

The decision was announced shortly after industry players commented on the Federal Housing Finance Agency's proposed expansion of the document's use.

A subsidiary pushed its tender offer to buy outstanding shares by June 27 further out after a small percentage of stockholders failed to accept by the original expiration date.

The watchdog claims that during internal testing, the company illegally processed $2.3 billion in mortgage payments.

Over one-third of the struggling borrowers who received recast loan terms in the first quarter cut their monthly obligation by 20% or more.

An Urban Institute and Federal Home Loan Bank of San Francisco paper suggests creating a pilot program in which some down payment funds are set aside in case the borrower runs into problems.

Adjustments to area median-income levels will make more residents eligible after the state opened up the Homeowner Assistance Fund to households with pandemic-related partial claims or loan deferrals earlier this year, the program said.

The Connecticut company has been growing both on the originations and servicing sides of the business.

The government-sponsored enterprise has shared $25.2 billion of insurance coverage through its Credit Insurance Risk Transfer program.