Distressed

Amid numerous late payment improvements, foreclosure sales and prepayments ticked up.

The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.

Above and beyond the obvious damage, wildfires levied a hidden cost on the finance industry: Mortgage lenders and investors lost more than $30 billion between 2020 and 2022, due to both accelerated defaults and prepayments following disastrous blazes.

Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.

"Lax regulation and monitoring of property insurers makes Florida mortgage markets far more exposed to climate risk than people might think," said Parinitha Sastry, an author of a working paper by researchers at Harvard University, Columbia University and the Federal Reserve.

But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.

The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.

The Supreme Court ruling on tax foreclosures could improve servicer recoveries but it's also giving some jurisdictions pause as they look at how to interpret it.

The order in the Cenlar loan modification case highlights what courts may look for in qualified written request responses, something other servicers like Specialized Loan Servicing also are contending with in litigation.

What recent patterns in FHA delinquencies, distressed loan outcomes, foreclosures and the rates at which loans are prepaying or underwater can reveal about where the market is headed.

The program backed by Mayor Brandon Scott will offer more than 200 city-owned vacant properties to residents who commit to repairing and living in them.

The momentum created in the fourth quarter is continuing during the first months of this year and is likely to continue throughout 2024, according to Dv01's Vadim Verkhoglyad.

The issuance consists of $618 million of securities, primarily senior, but also some in a subordinate position.

The Mortgage Bankers Association's preliminary first half 2023 analysis shows the highest jump since the 2000s housing boom. Here's what might happen next.

The Federal Housing Administration's new foreclosure prevention strategy starts soon and a Department of Veterans Affairs option is getting final approvals.

The accused, affiliated with Home Matters USA, reportedly took money from the victims and never delivered on the promised services.

State distribution of the Treasury funds for distressed homeowners is now reportedly at least two-thirds complete.

The quarterly rise in late payments on Federal Housing Administration loans was more than five times the increase for home loans overall.

The real estate investment trust lowered its dividend to 25 cents a share after the company realized a nearly $59 million loss on a Philadelphia office loan.

But Fannie Mae and Freddie Mac conducted no private-market sales of nonperforming loans early last year as adjustments were made to the program.