Mortgage defaults

A federal judge in Pennsylvania ruled the debtor could not prove she was injured by any alleged conduct by Nationstar or other defendants WSFS and A&D.

Levels of home equity in seriously delinquent loans have fluctuated but today there's still a sufficient amount to help many access foreclosure alternatives, Intercontinental Exchange said.

The withdrawal of pandemic housing relief and high home prices have heightened consumer strain, according to nonprofit Money Management International.

A report by Black Knight shows still-increasing home prices, which is bad news for prospective buyers, but good news for existing homeowners, who are gaining equity.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

The Federal Reserve Bank of Philadelphia also found that interest rate spikes are preventing modification programs from effectively reducing principal and interest payments as originally intended.

Over 1 million single-family and multifamily homes along the coast are at risk of storm surge damage.

And the rate of distress in second-lien home loans ticked up from the previous month, according to Standard & Poor's Dow Jones and Experian.

A couple squatted in their foreclosed home since 2009 and are only now being evicted, highlighting stubborn problems in the foreclosure process.

This pool was part of the government-sponsored enterprise's RPL3-2022 transaction but unlike the other two portions, it was not awarded in the initial announcement two weeks ago.

The jump for second mortgages and bank cards was even more pronounced, according to indices published by Standard & Poor’s and Experian.

Mark Calabria, who oversaw the two government giants under Trump and was fired by the Biden administration, said in a recent interview that the government-sponsored enterprises are once again at risk of insolvency.

The big threat to the mortgage banking community comes from any future Fed sales of mortgage-backed securities.

As interest rates fluctuated and purchase volumes increased in the second quarter, mortgage loans were more prone to defaults, according to actuarial and consulting firm Milliman.

Following completion of this sale and that of the valuation business, Xome will focus on real estate auction and asset management.

Approximately 65% of all current forbearance plans will expire by year-end and many of those borrowers won't be able to resume paying their contractually mandated amounts.

But 45% of the top 100 counties still have an above-average likelihood that borrowers won’t make their payments on these business-purpose loans, RealtyTrac said.

Although activity crept down in May from April, it posted “dramatic” increases from the year before, according to Attom Data Solutions.

Storm-related reconstruction costs — a large share of which may be concentrated in the New York City area — are estimated to total $1.9 trillion for water damage and $8.5 trillion for wind damage.

The ongoing CARES Act foreclosure moratoria may have led to distressed borrowers abandoning their homes, according to Attom Data Solutions.