Distressed

Coronavirus-related mortgages in forbearance grew 10 basis points between May 18 and May 24, according to the Mortgage Bankers Association.

In addition to the potential wave of mortgage defaults resulting from coronavirus-driven forbearances, hurricane season could put nearly 7.4 million homes worth $1.8 trillion at risk.

But the number of foreclosures and zombie properties may spike after the moratorium ends on June 30.

Kalahari Resorts defaulted on a $347 million mortgage originated by JPMorgan Chase

Coronavirus-related mortgages in forbearance grew 20 basis points between May 11 and May 17, according to the Mortgage Bankers Association.

County homeowners may be eligible for federal assistance in the form of low-interest loans rather than grants.

The original so-called payment holiday started in March and was set to end next month.

To deal with the crunch, servicers should combine cloud and digital workflow automation technologies.

Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.

The global hospitality industry is facing the worst downturn in its history, and New York, the epicenter of the coronavirus outbreak in the U.S., is poised for a painful recovery.

Now is the time for mortgage servicers to prioritize customer care for the homeowners they serve.

But in the worst-case scenario, the number of forbearances could grow by 3 percentage points through the end of June.

Homeowners hurt by coronavirus were told they could delay their mortgage payments without facing consequences. Now, some are learning they’re at risk of being shut out of the housing market.

Eligible borrowers can add the forborne payments to the end of their loan term.

By the end of the first quarter, the number of borrowers 30 days late on their mortgage increased by 59 basis points.

After over two years of falling delinquency rates, the burgeoning unemployment following the coronavirus economic shutdown will bring a surge of outstanding mortgages.

The number of mortgages in coronavirus-related forbearance rose by 37 basis points as the unemployment rate soared, according to the Mortgage Bankers Association.

Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.

The total coronavirus-related mortgages in forbearance grew by 55 basis points, in lockstep with rising unemployment claims, according to the Mortgage Bankers Association.

With unemployment mounting, new mortgage forbearance requests could sharply increase in early May when payments are due.