Default management

Levels of home equity in seriously delinquent loans have fluctuated but today there's still a sufficient amount to help many access foreclosure alternatives, Intercontinental Exchange said.

The withdrawal of pandemic housing relief and high home prices have heightened consumer strain, according to nonprofit Money Management International.

The annual survey and ranking of mortgage servicers found that while trust is increasing, borrowers were frustrated with some digital interactions and long wait times with call centers.

While foreclosures and distressed mortgages continue to descend overall, trends are moving in the opposite direction in a handful of states, according to Attom Data Solutions.

While there was a slight rise in foreclosure filings in August over July, there was a decline when compared with the previous year for the 14th consecutive month, according to Attom Data Solutions.

The nationwide mortgage delinquency rate keeps descending lower, with June marking the 18th consecutive month of annual drops, according to CoreLogic.

Foreclosure activity fell 21% in July compared to a year ago and rose 6% from June after twelve consecutive months of declines, according to Attom Data Solutions.

The mortgage delinquency rate sits at its lowest point in over 20 years after descending annually for 17 straight months through May, according to CoreLogic. But a broader look at this year's figures could signal a shift in the narrative.

Foreclosure activity dropped 18% in the first half of 2019 compared to a year ago, continuing an 11-quarter streak of sitting below prerecession levels, according to Attom Data Solutions.

Mortgage servicer customer satisfaction levels are among the lowest of any industry as more companies prioritize cost-cutting, regulation and default management over their borrowers, according to J.D. Power.

Mortgage servicers are getting better at helping borrowers avoid foreclosure, as evidenced by a declining auction rate, which was also supported by healthy home equity levels, according to Auction.com.

Not a single state posted annual gains in overall or serious mortgage delinquency rate in April as the national rate plummeted to a low not reached in over 20 years, according to CoreLogic.

The mortgage industry is calling for better alignment between the federal government and state of New York regarding proposed regulatory revisions that would affect local servicers.

Completed foreclosures shot down 50% in May from the year before, with overall activity also declining by 22% during the same period, according to Attom Data Solutions.

Foreclosure rates in March hit their lowest reading for the month in at least 20 years, while overall and serious delinquency rates also achieved 13-year lows for the same period, according to CoreLogic.

Covius Holdings plans to buy several businesses from Chronos Solutions that support mortgage servicing and origination processes, including three delivery platforms that will increase the breadth of its technology offerings.

Mortgage prepayments came gushing in at the start of the spring home buying season as delinquencies also improved, according to Black Knight.

As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages.

CoreLogic is exiting its loan origination software and default management operations over the next 24 months and instead accelerated plans to transform its appraisal management company unit.

Other than in areas hit by natural disasters, delinquency rates are falling with help from a healthier labor market, but a rise in riskier lending habits could signal trouble for borrowers should housing conditions change, according to CoreLogic.