Mortgage defaults

The strong recovery in commercial real estate has enabled borrowers to resolve a lot of problem loans made before the financial crisis, but Fitch Ratings continues to expect no recoveries from "hope notes."

The rate of mortgage loan delinquencies fell in November, according to Black Knight Financial Services.

President Obama is expected to sign a bill passed by both the House and Senate that grants extensions on a number of tax benefits enjoyed by individuals and corporations, including a number of temporary provisions that the real estate industry sought.

Fannie Mae's final risk-sharing transaction of the year was with reinsurers.

All servicers that are part of the national mortgage settlement — except Ocwen Financial — passed metrics testing in the first half of the year, according to the settlement's monitor.

Default rates on various types of consumer loans improved in November, according to Standard & Poor's and Experian.

The commercial mortgage-backed securities delinquency rate improved from October to November, according to Fitch Ratings.

The number of residential properties with negative equity continued to decline in the third quarter, according to CoreLogic.

The consumer lending market, including mortgages, will fully recover from the financial crisis by the end of 2016, according to a forecast by TransUnion.

The number of homes in foreclosure and the rate of completed foreclosures both declined in October, CoreLogic said.

Onslow Bay is making its debut in the securitization market with $231 million of bonds backed by mortgage loans the real estate investment trust acquired from several lenders, according to Standard & Poor's.

The number of homes in negative equity continued to shrink, but overall levels of negative equity remain high and are holding back a full-scale housing market recovery, according to Zillow.

When news broke in October that New York's Stuyvesant Town was being sold, observers expected the $3 billion loan on the property to be paid off without a glitch.

The commercial mortgage-backed securities delinquency rate improved by double-digit basis points in November, fulfilling Trepp's forecast for a large monthly improvement.

Loan modifications declined 18% during the third quarter to 337,000, a sign of an improving market, according to Hope Now.

The delinquency rate for commercial and multifamily mortgages improved for most categories of investors in the third quarter, according to the Mortgage Bankers Association.

Pacific Investment Management Co. sued Citigroup Inc. over the bank's role as trustee for $13.8 billion of mortgage-backed securities made toxic when the housing bubble burst, leading to "substantial damages."

Three county governments in metro Atlanta have sued Bank of America for engaging in the practice of equity stripping, where the bank targeted minority borrowers with high-interest mortgage loans.

Fannie Mae has transferred the credit risk on a $12 billion pool of mortgages to reinsurers.

From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.