Consumer lending

The sooner troubled loans can be put on a more proactive servicing path, the more likely the distressed homeowners will be able to avoid foreclosure, writes the vice president of market economics at Auction.com.

The four-week high in forbearance exits also helped drive the considerable drop in plans, according to Black Knight.

Mortgage forbearances rose for only the second week in the past three months but big drops in numbers could be on the horizon, according to Black Knight.

For the first time since the pandemic began, the share of borrowers who are 30 days or more late on their payment is below 5%, Black Knight found.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.

The total number of loans in this category dropped 11 basis points from week to week according to the Mortgage Bankers Association. Meanwhile, the amount of unpaid balance in forbearance dropped almost 23% since the start of the year, a separate report from Black Knight found.

The agreement, which is extended for five years, also expands upon the delinquent mortgages services Altisource will provide to Ocwen.

The nation’s largest mortgage lender plans to use a new partnership with the financial technology company AutoFi to sell more cars to its home loan customers.

An economic rebound, stimulus payments and COVID-19 vaccinations contributed to new delinquencies dropping to an all-time monthly low with more recovery ahead, according to Black Knight.

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.

The mortgage insurance business had adjusted operating income of $126 million in the first quarter, down from $148 million one year ago.

The persistently slow reduction in the number of borrowers at risk of default indicates that while loan performance overall is improving, a substantial pool of mortgages will need workouts when forbearance ends.

The agency's new policy requires collectors seeking to evict tenants to provide written notice of their rights under a federal moratorium.

An interactive dialogue with Founder and CEO of NorthOne on the fintech industry, the growing needs of challenger banks, and the future of SMB banking.

COVID-19 quickly altered the hierarchy of borrower debt, with home financing payments taking precedence over credit cards and auto loans, according to TransUnion.

While the overall delinquency rate decreased for the fifth straight month, states with unemployment rates that were double and triple the national average had the most overdue loans, a CoreLogic report found.

The stabilizing economy drove one of the biggest mortgage recoveries on record, according to the Mortgage Bankers Association.

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.

However, the number of borrowers who failed to remit payment but were not yet 30 days overdue increased.

Known for giving away its signature canary-hued Converse to employees and clients, this small API-centric fintech is poised to become a significant player in open banking thanks to parent company Mastercard and its vendor status with Fannie Mae and Freddie Mac.