Distressed

The Federal Housing Administration confirmed the exclusion of real estate taxes and hazard insurance premiums, and discussed timelines.

More than half of the seriously delinquent mortgages that did not have this type of payment relief were originated prior to ability-to-repay requirements enacted following the Great Recession, the latest Federal Reserve Bank of Philadelphia study found.

Emergency legislation written early in the pandemic changed how things were done to protect borrowers with accommodations for hardships, and mortgage companies need to be careful as things return to normal.

The number of people that have paid late in the near term has increased, according to multiple recent reports.

More than 500 employees will be affected by the acquisition, which includes rights related to 140,000 residential loans, but Community Loan Servicing will retain its name and commercial operations.

While smaller in number, initiated foreclosures had a similar consecutive-quarter gain as the market transitioned away from pandemic-related relief that has artificially constrained workout activity.

The share who made timely payments inched up for the first time since June of last year.

Private-market loans nudged the total number up during a processing lull, according to Black Knight.

The increase in second-lien residential loans in this category was even more pronounced, according to Standard & Poor’s Dow Jones Indices and Experian.

Completions were the one type of activity tracked by Attom that slowed month-to-month, suggesting catch-up actions related to a pre-pandemic overhang of distressed loans.