Foreclosures

In a best-case scenario, the money could wipe out almost one-third of the pandemic-related increase in missed payments, but it won’t exclusively be used for that purpose.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

Nearly half the country saw foreclosure starts rise year-over-year during the final month of the moratorium, according to Attom Data Solutions.

The congresswoman urged the Federal Housing Administration to double the six-month term it offers for more recent forbearance requests.

The number of people exiting pandemic-related payment suspensions starting in September will be daunting to process, according to a Black Knight report published Monday.

Concerns about foreclosure and a crowded market led to an increase in listings at lower price points in the second quarter.

The Federal Housing Administration, the agency that oversees government-sponsored enterprises Fannie Mae and Freddie Mac, and the VA extended additional relief to those living in single-family rental, real-estate owned properties.

The plan aims to cut monthly payments by roughly 25% for homeowners in government-backed mortgages who are negatively impacted by the pandemic.

The relatively low share of borrowers who were distressed in June adds to signs that the offramp from government relief measures may not lead to an overwhelming wave of foreclosures.

As the distribution of at-risk housing markets spread across more states quarter-over-quarter, vulnerable clusters remained around Chicago, New York and Philadelphia, an Attom Data report finds.

The meager increase suggests the largest boost in inventory possible would likely still leave the backlog of homes on the market at historic lows.

The return of more normalized numbers for two key players in the home loan market could be the lead-up to a wave that’s been anticipated since the coronavirus arrived.

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.