Distressed

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

New York, Chicago and Philadelphia led the list of large metropolitan markets considered vulnerable to a downturn, based on analysis from Attom.

In order to address contractor pricing issues, the property preservation and management firm is shifting to a self-performing model by opening a national network of regional centers.

While some year-over-year upticks have materialized, the benchmarks reported for September were still generally on par with or below pre-pandemic levels, according to CoreLogic.

As the share of forborne loans increased for the first time in more than two years, servicers are cautiously eyeing data trends but appear equipped to handle storm-related distress.

But an executive at the mortgage company's corporate parent feels the agency, which is facing a court challenge to its funding, is engaging in regulatory overreach.

But the likelihood of a recession and higher unemployment should drive the rate higher in the future, the Mortgage Bankers Association said.

The share of home loans late by more than 30 days or in foreclosure in August inched back down to 2.8% from 3% the previous month, according to CoreLogic.

However, from a historical perspective, vacant pre-foreclosure homes remain "nearly extinct" heading into the fourth quarter of this year, according to Attom Data Solutions.

The numbers contrast other loan performance statistics that show payments that have been late for less than 90 days have been creeping up a little.

Households with no income or a debt-to-income ratio greater than 55% qualify for reinstatement of their loans plus up to three months of future outlays.

Compliance is crucial in light of regulatory attention to mortgage companies' ability to provide continuity of care to distressed borrowers in particular.

The difficult job of rebuilding communities pummeled by Hurricane Ian is expected to be made even worse by a problem that's lingered since the early days of the pandemic: snarled supply chains.

Three percent of all mortgages were 30 or more days past due on their scheduled payment or in foreclosure in July.

The month ended with 54,000 less properties for which the borrower was at least 30 days or more late on their payments, Black Knight said.

The Federal Housing Finance Agency's quarterly report said that the government sponsored enterprises prevented a total of 96,952 foreclosures

The Consumer Financial Protection Bureau's latest request for information floats the idea of an "auto-refi" and potentially extending pandemic-related options like forbearance for permanent industry use.

And the rate of distress in second-lien home loans ticked up from the previous month, according to Standard & Poor's Dow Jones and Experian.

Payment suspensions on loans securitized through the government-backed market stopped falling in May, plateaued over the summer, and reversed course last month, according to an industry trade association.

Roughly 16% of home loan borrowers likely have education debt, less than one-third of those may be distressed, Mr. Cooper executives told investors at a conference this week.