Distressed

This move is in addition to the recent notice filed by the Department of Housing and Urban Development about its interest in creating a permanent 40-year option.

The numbers suggest depositories are finding it easier than non-depositories to qualify their borrowers for foreclosure prevention programs as forbearance recedes.

The move would align the Federal Housing Administration with other agencies, including Fannie Mae, Freddie Mac, the USDA, and the National Credit Union Administration.

The scheme highlights a risk that could grow as distressed borrowers exit forbearance.

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.