Foreclosures

Mortgage prepayment speeds fell to a 19-year trough despite recent interest rate declines, but could rise if those lower rates lead to an increase in home purchases, according to Black Knight.

Fewer mortgage borrowers are falling behind on their payments, and consumers' broader borrowing habits indicate an increased willingness to turn to nontraditional sources like fintechs for their lending needs, according to TransUnion.

In what some real estate professionals are referring to as part of the "after-effects" of the recession, is a spike in the sale of foreclosures across Staten Island.

Mortgage delinquencies in the fourth quarter were at their lowest level in nearly 19 years, helped by wage growth, low household debt and low unemployment, the Mortgage Bankers Association said.

Mortgage loan performance remained strong in November as serious delinquencies fell to their lowest reported level since before the housing bubble burst, according to CoreLogic.

A year after forming, the Erie County, Pa., land bank is compiling a list of blighted, tax-delinquent properties outside the city that need to be demolished or rehabilitated.

Late payments on loans backing commercial mortgage bonds continued falling at the start of the year, due to strong new issuance volume and continued resolutions for precrisis loans by special servicers, according to Fitch Ratings.

As more homeowners decide to age in place, the amount of equity rich properties continues to rise, according to Attom Data Solutions.

Ocwen Financial subsidiary PHH Mortgage will pay a total of $750,000 to six military members and increase employee training to settle Department of Justice allegations that it conducted foreclosures that violated the Servicemembers Civil Relief Act.

Better credit quality and the influx of refinancing during the low interest rates of the last few years pushed mortgage performance to the highest levels since the turn of the century, according to Black Knight.

New York State is providing additional funding to municipalities that will boost efforts regarding mortgage servicer compliance with the state and local vacant property laws.

Risk aversion, economic momentum and the multidecade nadir of unemployment rates helped push delinquencies to the lowest year-end measure of the 21st century, according to Black Knight.

The distressed real estate market has bounced back from the housing bubble as most foreclosures are due to natural disasters, according to Attom Data Solutions.

The agency wants mortgage servicers to extend special forbearance plans to those affected by the partial government shutdown and evaluate borrowers for loss-mitigation options.

The strong economic headwinds from last fall facilitated a declining loan delinquency rate across the country, though areas hit by natural disasters had increased defaults, according to CoreLogic.

As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages.

A Wilmington Township, Pa., man accused of illegally purchasing properties he formerly owned through a tax sale has pleaded guilty to a felony charge of deceptive business practices.

Home retention actions from Fannie Mae and Freddie Mac through the first three quarters of 2018 already eclipsed 2016 and 2017 while forfeitures kept declining, according to the Federal Housing Finance Agency.

Many servicers expect their Federal Housing Administration mortgage portfolios to grow in the next year or two, and that increase could coincide with an uptick in delinquencies, warns Altisource Portfolio Solutions.

Mortgage prepayment speeds fell to their lowest level in 10 years in November as rising interest rates took a toll on origination activity, according to Black Knight.