Foreclosures

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.

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.

The ruling confirms that a state precedent regarding forward mortgages also applies to home equity conversion loans.

The Federal Housing Finance Agency addressed the period between the end of the federal foreclosure moratorium and the beginning of new Consumer Financial Protection Bureau directives as home loan companies expressed relief that requested exemptions from some foreclosure waiting periods were included.

The Consumer Financial Protection Bureau issued a temporary final rule that allows mortgage servicers to initiate foreclosures on abandoned properties and certain delinquent borrowers, but it also outlined additional measures that shield distressed homeowners.

Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers

Although activity crept down in May from April, it posted “dramatic” increases from the year before, according to Attom Data Solutions.

But March's overall late payment rate was 1.3 percentage points higher than one year ago, while the 90-day-plus rate was 2.3 percentage points higher.

Hardly a day goes by where a Covius client doesn’t have a question about the timing of various federal and state deadlines, its vice president of compliance writes.

The sooner troubled loans can be put on a more proactive servicing path, the more likely the distressed homeowners will be able to avoid foreclosure, writes the vice president of market economics at Auction.com.