Distressed

In order to address contractor pricing issues, the property preservation and management firm is shifting to a self-performing model by opening a national network of regional centers.

While some year-over-year upticks have materialized, the benchmarks reported for September were still generally on par with or below pre-pandemic levels, according to CoreLogic.

As the share of forborne loans increased for the first time in more than two years, servicers are cautiously eyeing data trends but appear equipped to handle storm-related distress.

But an executive at the mortgage company's corporate parent feels the agency, which is facing a court challenge to its funding, is engaging in regulatory overreach.

But the likelihood of a recession and higher unemployment should drive the rate higher in the future, the Mortgage Bankers Association said.

The share of home loans late by more than 30 days or in foreclosure in August inched back down to 2.8% from 3% the previous month, according to CoreLogic.

However, from a historical perspective, vacant pre-foreclosure homes remain "nearly extinct" heading into the fourth quarter of this year, according to Attom Data Solutions.

The numbers contrast other loan performance statistics that show payments that have been late for less than 90 days have been creeping up a little.

Households with no income or a debt-to-income ratio greater than 55% qualify for reinstatement of their loans plus up to three months of future outlays.

Compliance is crucial in light of regulatory attention to mortgage companies' ability to provide continuity of care to distressed borrowers in particular.