Foreclosures

Property insurance and taxes account for over one-third of current loan performance risk, according to Auction.com's recent survey of default servicing leaders.

On the whole, foreclosure times are back where they were before the pandemic, but in one state the average is over 10 years, according to Attom's latest data.

The 22,385 homes entering the process last month was a 3% monthly increase but a 4% annual decline.

Distressed borrowers in parts of Maine, Nebraska and West Virginia are the latest to get short-term leniency on government loan payments due to disasters.

The Department of Veterans Affairs asked servicers to suspend foreclosures beyond May, with exceptions for circumstances like borrower readiness to proceed.

Fears that foreclosures and abandoned property rates could spike once Covid-19 moratoriums ended have not come to fruition, Attom Data Solutions said.

The Federal Housing Administration's clarification addresses interpretations of an 8th U.S. Circuit Court of Appeals decision that increased industry costs.

Late payments on VA loans were up markedly within the first quarter, in contrast to other products, according to new Mortgage Bankers Association data.

The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.

The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.