Distressed

Willis, Texas led the list, with the most borrowers who would be likely to default if faced with sudden financial hardship.

The $10 million program appears to be the first of its kind in the nation.

The Consumer Financial Protection Bureau’s acting director has said he could rethink the pending Fair Debt Collection Practices Act rules, but a report released Monday indicated they’re moving ahead for the time being.

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

The agency will allow an additional three months of forbearance for multifamily property loans backed by Fannie Mae and Freddie Mac, as long as tenant protections are offered.

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

Mortgage companies are working to forge links with homeowners’ insurers to avoid delays that could compound damage to customer service and properties.

Servicers could be dealing with approximately 1.8 million distressed properties when the latest forbearance extension ends in June, Black Knight said.

Independent mortgage banker recovery drove the weekly decrease in forbearance share, according to the Mortgage Bankers Association.

Moratorium extensions helped drive a weekly increase in forbearances, according to Black Knight.