Mortgage defaults

The ongoing CARES Act foreclosure moratoria may have led to distressed borrowers abandoning their homes, according to Attom Data Solutions.

Most of the activity covered vacant and abandoned properties or commercial loans, according to Attom Data Solutions.

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

While cash-out refinances were a “significant driver” of risky loans leading to the Great Recession, those mortgages pose less of a threat due to tighter underwriting standards, according to Milliman.

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.

Inventories should keep shrinking, which is likely to drive higher returns on equity and reduce their loss ratios, a BTIG report said.

As an improving job market aided financial stability for borrowers, 2020 ended with drops in delinquent home loans, a CoreLogic report found.

While foreclosure moratoria keep the overall numbers down, zombie foreclosure rates jumped in the majority of states, according to Attom Data Solutions.

With President Biden extending the moratorium, foreclosures hit an all-time low at the start of 2021 as millions of delinquent borrowers avoided entering the process, according to Attom Data Solutions.

Gains in consumer financial stability helped to decrease the rates of distressed home loans, but job creation is needed to make recovery sustainable, a CoreLogic report found.

Meanwhile at Essent, more loans exited the inventory in January than in December.

The housing market’s boom led to more borrowers building home wealth but the pandemic’s negative impact brings concern for underwater owners, according to Attom Data Solutions.

While distressed mortgage rates continued the fall’s short-term slide, serious delinquencies are three times higher than the year-ago total, according to CoreLogic.

For some, including National MI and Essent, the improvement is taking place faster than expected.

Economic instability during the quarter drove the increase in findings regarding income and employment, Aces Quality Management reported.

The largest concerns are with pandemic risk and defaults, along with business resilience and adaptability, according to a Wolters Kluwer survey.

While distressed mortgage rates crept down overall, serious delinquencies still tripled year-ago rates in September, according to CoreLogic.

Lower cure rates and possible rises in foreclosures and claims could force these companies to raise capital next year, Fitch Ratings said.

The Federal Housing Finance Agency said that Fannie Mae and Freddie Mac would extend the measures until “at least” Jan. 21, 2021.

Troubled Veteran’s Administration “no-bid” loans could bankrupt servicers in the near future, says Morgan Snyder of CAllc Research Publications.