Mortgage defaults

The Consumer Financial Protection Bureau added its voice Tuesday to a chorus of other regulators in calling for sustainable foreclosure relief when the Home Affordable Modification Program expires at yearend.

The United Kingdom's vote to leave the European Union has created the largest refinanceable population in the United States since late 2012, according to Black Knight Financial Services.

Fannie Mae has selected Corona Asset Management XVIII as the winner of its fourth and latest "community impact" pool of nonperforming loans.

The Consumer Financial Protection Bureau released a plan Thursday to overhaul the debt collection industry that would limit collection attempts to six per week and require confirmation of a debt before contacting consumers. The plan, however, is not yet directed at banks and credit card companies.

Walter Investment Management Corp. subsidiary Ditech Financial plans to lay off more than 100 employees in North Carolina and Texas following declines in defaults across the country.

As if high default costs haven't been challenging enough for mortgage servicers, a growing number of seriously delinquent loans are Federal Housing Administration products, which require significant upfront investment to resolve.

Prepayment speeds were lifted to a 12-month high in June thanks to historically low interest rates, according to Black Knight Financial Services.

Freddie Mac has reached a binding commitment with Chimera Investment Corp. in its pilot structured sale of seasoned loans.

Federal regulators warned mortgage servicers Monday that they will still expect them to offer loan modifications to distressed homeowners even after the Home Affordable Modification Program expires at yearend.

Multifamily family construction is reaching the point where some markets can't absorb the new supply of units.