Foreclosures

Retroactive interpretations have bedeviled mortgage servicers and the market for older loans. The industry will be watching other cases in New York closely now.

Roughly 100,000 properties in the United States had a foreclosure filed in the third quarter this year, an increase on a quarterly and yearly basis, ATTOM said.

The latest reports from ICE Mortgage Technology and VantageScore appear to be in line with hints at growing borrower pressure officials are eyeing in policy.

Properties with default notices, scheduled auctions and REOs are up by double digits compared to last summer as buyers are mired in a high-cost environment.

The Foreclosure Abuse and Prevention Act has reportedly stopped one company from buying loans in the New York, others are said to be paying less for them.

Mortgage delinquency rates increased versus the second quarter of 2024, with certain markets, especially in the South, reporting higher levels of difficulty.

By looking at the payment-to-income ratio on credit cards, as well as student loans and HELOCs, Transunion says servicers can predict future delinquency trends.

The share of investor-owned properties sitting empty is greater than the vacancy rate for the nation's housing market, according to Attom Data Solutions.

Between rising home costs and the end of mortgage relief programs, many homeowners are struggling to stay above water, especially in the South and West.

The bill, introduced by Rep. Derrick Van Orden, creates a permanent partial claim program for veterans.