Distressed

While the annual total marks a 16-year low, the numbers are likely to change dramatically once government moratoria expire, according to Attom Data Solutions.

Changes in rules related to repayment options and refinancing criteria have complicated servicers’ lives, but otherwise this crisis hasn’t been as bad as that of 2008, a Fannie Mae survey finds.

While distressed mortgage rates continued the fall’s short-term slide, serious delinquencies are three times higher than the year-ago total, according to CoreLogic.

The funding will be used to continue developing the automation Brace provides for distressed loan servicing and other related services.

For some, including National MI and Essent, the improvement is taking place faster than expected.

Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.

A slowdown in the increase of loans exiting forbearance “implies that those who were able to absorb the shock of the pandemic and get back on their feet, may have already done so,” said Andy Walden, Black Knight economist.

The Fed’s decision to lower rates amid a pandemic proved serendipitous for home lenders who benefited from a refinance boom last year, but they may need to make adjustments in the coming months.

With limited plan removals due to the holidays, mortgages in coronavirus-related forbearance rose by 15,000, according to Black Knight.

A real estate firm focused on gentrifying neighborhoods is showing cracks after a group of its apartment buildings in New York’s Upper West Side and Harlem filed for bankruptcy.