Foreclosures

While numbers have been increasing, it will be some months before they get back to pre-pandemic levels, according to Attom Data Solutions.

Even though the majority of forbearance plans have ended, late payments continued their downward trend in January.

Servicers of Fannie Mae- and Freddie Mac-backed loans should hit pause for up to 60 days once they know the borrower has sought relief, according to the Federal Housing Finance Agency.

Laws in at least a dozen states allow municipalities or investors to acquire valuable property to satisfy tax liens far below the asset’s value, a legal organization said.

While smaller in number, initiated foreclosures had a similar consecutive-quarter gain as the market transitioned away from pandemic-related relief that has artificially constrained workout activity.

Completions were the one type of activity tracked by Attom that slowed month-to-month, suggesting catch-up actions related to a pre-pandemic overhang of distressed loans.

A California man and his unnamed co-conspirator netted a total of at least $5 million from thousands of homeowners, federal prosecutors said.

Meanwhile, 707,104 mortgages remain in forbearance, accounting for a combined $136 billion in unpaid balances.

Real-estate owned, auction and default activity tracked by Attom have rebounded slightly, but the latest Mortgage Bankers Association’s number for late payments show they’re still very near or at historic lows.

Housing rights advocates said minority home-buyers and homeowners in 39 U.S. metropolitan areas will receive the funds as a result of a legal action alleging racial discrimination in the government-sponsored enterprise's foreclosure practices.