Distressed

The number of loans going into coronavirus-related forbearance dropped for the third consecutive week, as the growth rate fell 8 basis points between June 22 and June 28, according to the Mortgage Bankers Association.

The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.

While the multifamily loan forbearance rate is lower than the most pessimistic projections, Pat Jackson says borrowers are hardly out of the woods yet.

The nonprofit, formed with the encouragement of government agencies to address borrower hardships in 2007, uses a model that has been challenged by the current crisis.

The number of loans going into coronavirus-related forbearance edged down slightly, with the growth rate dipping 1 basis point between June 15 and June 21, according to the Mortgage Bankers Association.

The company formally reported a nearly $65 million loss in the first quarter as the coronavirus affected its operations in March.

Compared with the week prior, approximately 83,000 more loans from all investor types became forborne.

The government-sponsored enterprises had been considering tightening counterparty requirements for nonbanks, but in light of COVID-19's spread, they've reconsidered that.

The mortgage company will provide up to $17 million in forgiveness to settle charges that modifications it applied to distressed government-related loans were not in keeping with state servicing regulations.

The number of loans going into coronavirus-related forbearance dropped, with the growth rate falling 7 basis points between June 8 and June 14, according to the Mortgage Bankers Association.

Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.

Blackhawk Community Credit Union sold the buildings it acquired in lieu of foreclosure to Rock Renaissance Partnership for $165,000.

Starwood Capital Group missed two monthly payments on securitized debt tied to five shopping malls anchored by bankrupt department stores including Sears and J.C. Penney.

The number of loans going into coronavirus-related forbearance ground down to a growth rate of 2 basis points between June 1 and June 7, according to the Mortgage Bankers Association.

A Clever Real Estate survey found a significant share of new borrowers are not making their full payment.

As brick-and-mortar shopping centers steadily lost market share to online competitors, the family behind three of the four biggest malls in North America built a thriving business by infusing their properties with heavy doses of entertainment.

The number of loans going into coronavirus-related forbearance slowed to a rate of 7 basis points between May 25 and May 31, according to the Mortgage Bankers Association.

About 9% of government-insured loans in forbearance have low equity, which could hamper post-forbearance servicing.

But there was an increase in private-label mortgages in forbearance.

The company's pricing of its secondary stock option partially alleviated worries about the need to obtain new funds and the risk of dilution for existing shareholders.