Mortgage defaults

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.

Most of the activity covered vacant and abandoned properties or commercial loans, according to Attom Data Solutions.

The agreement, which is extended for five years, also expands upon the delinquent mortgages services Altisource will provide to Ocwen.

While cash-out refinances were a “significant driver” of risky loans leading to the Great Recession, those mortgages pose less of a threat due to tighter underwriting standards, according to Milliman.

While the overall delinquency rate decreased for the fifth straight month, states with unemployment rates that were double and triple the national average had the most overdue loans, a CoreLogic report found.

Inventories should keep shrinking, which is likely to drive higher returns on equity and reduce their loss ratios, a BTIG report said.

As an improving job market aided financial stability for borrowers, 2020 ended with drops in delinquent home loans, a CoreLogic report found.

While foreclosure moratoria keep the overall numbers down, zombie foreclosure rates jumped in the majority of states, according to Attom Data Solutions.

With President Biden extending the moratorium, foreclosures hit an all-time low at the start of 2021 as millions of delinquent borrowers avoided entering the process, according to Attom Data Solutions.

Gains in consumer financial stability helped to decrease the rates of distressed home loans, but job creation is needed to make recovery sustainable, a CoreLogic report found.