Black Knight

Cannae Holdings, a spinoff of Fidelity National Financial, is trying to stage an unsolicited takeover of the property data, analytics and services firm that once had ties to Fidelity's competitor.

Compared with the week prior, approximately 83,000 more loans from all investor types became forborne.

The number of loans going into coronavirus-related forbearance dropped, with the growth rate falling 7 basis points between June 8 and June 14, according to the Mortgage Bankers Association.

The delinquency rate at the end of May was the highest in over eight years, but that includes borrowers in forbearance plans.

Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.

Analysts think the company could be looking for an acquisition target.

The number of loans going into coronavirus-related forbearance ground down to a growth rate of 2 basis points between June 1 and June 7, according to the Mortgage Bankers Association.

About 9% of government-insured loans in forbearance have low equity, which could hamper post-forbearance servicing.

Former Comptroller of the Currency Joseph Otting landed a post with Black Knight, which provides technology solutions to mortgage and real estate companies.

But there was an increase in private-label mortgages in forbearance.

As the growth rate in forbearance requests downshifts, a vast stockpile of loans await modifications.

But in the worst-case scenario, the number of forbearances could grow by 3 percentage points through the end of June.

But Black Knight and Arch Capital's mortgage insurance business aren't as affected, at least so far.

With unemployment mounting, new mortgage forbearance requests could sharply increase in early May when payments are due.

About 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus pandemic.

As lenders scale up on their remote capabilities in response to the pandemic, the software companies that service them see exponential growth.

Due to COVID-19's economic impact, the number of mortgaged properties in default or foreclosure rose in March for the first time since the turn of the century, according to Black Knight.

Researchers predict that the rate will rise in step with unemployment rate projections.

Servicers' obligations to advance or temporarily absorb unpaid funds could range from $3 billion to $13 billion per month, according to Black Knight.

While the mortgage market began the year healthy, lenders and borrowers need to prepare for the impacts of the coming coronavirus recession.