Distressed

Three years later, the percentage who kept paying was the same as those who didn't and exited without immediate loss mitigation in place, the Mortgage Bankers Association discovered.

While multifamily late payments were flat, hotel properties continued to improve but office performance deteriorated significantly from the first quarter, the Mortgage Bankers Association said.

Over 111,000 distressed mortgage holders opted into a loan modification program during the COVID-19 pandemic by using a designated digital platform or app, according to Black Knight.

But the volume of activity for distressed properties is still lower than the historic norms, Attom Data Solutions said.

There's quite a bit of inventory out there that would have otherwise been returned to the market but for unduly harsh political theater writes the CEO of the National REO Brokers Association.

The payment supplement partial claim the Federal Housing Administration proposed could be effective but not as is, according to the Mortgage Bankers Association and two other groups.

In 2021, Black and Hispanic homeowners were most prone to have suspended payments, but by 2023 they were just as likely to have resumed them as other groups, a study found.

An Urban Institute and Federal Home Loan Bank of San Francisco paper suggests creating a pilot program in which some down payment funds are set aside in case the borrower runs into problems.

The amount of distressed assets rose 10% in the first three months of the year, according to a new report from MSCI Real Assets.

Some borrowers reportedly balk at moving to longer terms to modify as the popping of tiny housing bubbles potentially puts new strain on performance.