Foreclosures

The new bill ordering $600 stimulus checks and $25 billion in emergency rental assistance won't be enough to help millions of Americans struggling to make housing payments, according to industry watchers.

The company expects a good year ahead for mortgage insurers, assuming that rising employment, higher home prices and payment timing deferrals will help them to mitigate risk.

The percentage of seriously delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter.

The November foreclosure rate represented an 80% decline from the year before, according to Attom Data Solutions.

While distressed mortgage rates crept down overall, serious delinquencies still tripled year-ago rates in September, according to CoreLogic.

Lower cure rates and possible rises in foreclosures and claims could force these companies to raise capital next year, Fitch Ratings said.

The Federal Housing Finance Agency said that Fannie Mae and Freddie Mac would extend the measures until “at least” Jan. 21, 2021.

The nine arraigned individuals face 136 counts of felony charges for allegedly running an advance fee mortgage relief scheme over the last decade, totaling $6 million.

While sales increased 24% over August, they were still down 78% from the prior year, Auction.com reported.

Mortgage delinquencies dropped to the lowest level since March but, particularly at the seriously delinquent level, they're still much higher than pre-coronavirus rates, according to Black Knight.

The overall mortgage delinquency rate improved in the third quarter as the economy got healthier while late-stage delinquencies hit a decade high, according to the Mortgage Bankers Association.

While moratoria keep foreclosures low compared to last year's rates, October activity jumped 20% from September, according to Attom Data Solutions.

While the total foreclosures continued to fall with coronavirus moratoria in place, the share of zombie properties rose in the fourth quarter, according to Attom Data Solutions.

While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.

Expected to make landfall as a Category 2 storm, Hurricane Delta's surge is estimated to cause damage to 293,685 residential properties across Alabama, Louisiana, Mississippi and Texas, according to CoreLogic.

The metro areas surrounding New York, Washington, Philadelphia and Baltimore face the highest risk of impact from the pandemic based on home affordability, equity and foreclosures.

The class-action lawsuit claims the company used deceptive contracts, locking low-income Black homebuyers into disadvantageous long-term mortgages without proper lending disclosures.

Gov. Andrew M. Cuomo on Monday announced he will extend the eviction moratorium — set to expire Oct. 1 — to next year, continuing protections for tenants as well as homeowners who have been unable to pay rent and mortgage during the public health crisis.

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

While still greatly trailing year-ago numbers, mortgage foreclosure activity jumped in August from July as moratorium restrictions started lifting and courthouses reopened, according to Attom Data Solutions.