Distressed

As the distribution of at-risk housing markets spread across more states quarter-over-quarter, vulnerable clusters remained around Chicago, New York and Philadelphia, an Attom Data report finds.

The meager increase suggests the largest boost in inventory possible would likely still leave the backlog of homes on the market at historic lows.

The return of more normalized numbers for two key players in the home loan market could be the lead-up to a wave that’s been anticipated since the coronavirus arrived.

Those handling loan modifications anticipate a growing secondary market for loans in forbearance as they budget cautiously for additional alterations of regulations down the road.

Most troubled homeowners can avoid a long foreclosure process by selling and exiting with clean credit or even a profit, but a little under 2% may not have enough value in their property.

The sharp decline suggests borrowers are recovering enough from pandemic-related hardships to leave forbearance plans even before a key expiration date arrives this fall.

Identifying where payment stress is concentrated could help mortgage servicers and federal policymakers prepare for the broader range of loan workouts that will resume this summer.

It will be several years before business and group travel return to normal levels, according to an estimate from the American Hotel & Lodging Association.

Rebounding employment brought total forborne mortgages under 2 million, according to the Mortgage Bankers Association.

The lack of a stabilizing force in the commercial real estate mortgage business is creating one of the most significant threats the lending industry faces, writes the CEO of Cirrus.