Distressed

Delinquent borrowers in areas hit by Hurricanes Helene and Milton will get a few additional months to find solutions before servicers can resume legal actions.

Serious mortgage delinquencies are at their highest since May 2023, and early payment default activity is also a concern, ICE Mortgage Technology said.

Government-guaranteed securitization rules complicate servicing sales and are a growing problem for nonbanks, the Community Home Lenders of America says.

Foreclosures were up month to month in October, while future indicators, such as mortgage delinquencies and trouble making all debt payments, came in higher as well.

Private mortgage insurers are having a strong year so far, although most had flat business in the third quarter, industry results show.

Even as home equity withdrawals hit a two-year high, utilization rate remained less than half of normal, ICE Mortgage Technology said.

The number of vacant, abandoned properties in foreclosure, while up from the third quarter, was nearly 1,800 lower than a year ago, Attom Data said.

If customers perceive they are dealing with a scripted chatbot, they are likely to be less satisfied with their mortgage servicer, J.D. Power said.

The post-pandemic normalization of the housing market, economic factors and natural disasters, are contributing to the rise in late payments, ICE Mortgage Technology said.

The economy and the environment are impacting loan entries into forbearance, as well as their performance on exit, the Mortgage Bankers Association said.

The process is still taking over two years on average across the country to complete.

Depending on who wins, it will be four years of progressive policy chaos or four years of indifference towards the housing market.

The Federal Trade Commission has arranged the payment of hundreds of thousands of dollars to people a law firm charged for lower rates they never received.

Total mortgage delinquencies dropped but Hurricane Beryl boosted late payments locally and runoff risk surged, Intercontinental Exchange's First Look report shows.

While flat from a year ago, volumes surged between June and July, with notable increases in both starts and completions, according to Attom.

The Federal Housing Administration may soon complete the modernization of "face-to-face" rules and end a temporary, partial exemption from the original mandate.

The Treasury, CFPB and Federal Trade Commission are joining forces to warn consumers about predatory practices in financing solar energy panels.

Crisis-era issues highlight why certain measures like equity and insurance innovations may be good for servicers to have on hand, a new report suggests.

As a result of the high-pressure sales tactics, consumers could lose their homes to foreclosure or bankruptcy, the Center for Responsible Lending said.

The annual J.D. Power mortgage servicer study found a six-point rise in the industry average score but also that consumer financial health slipped downward.