Mortgage defaults

The CARES Act does not define what a covered period is when it comes to residential mortgage borrower requests for forbearance.

Ocwen Financial has approximately $749 million of liquidity from various sources to deal with servicing issues arising from the coronavirus, a company press release said.

Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.

Simply stated, the federal forbearance of mortgage payments is perhaps the largest unfunded public mandate in American history.

A top U.S. regulator is exploring whether to throw a lifeline to mortgage servicers stressed by the coronavirus pandemic by tapping a program meant to address natural disasters.

The impending wave of loan delinquencies because of the coronavirus hurt private mortgage insurer earnings, but the companies will still have sufficient capital, a Keefe, Bruyette & Woods report said.

The government is cushioning the impact of the coronavirus on consumers, but independent mortgage bankers need funding to deal with increased levels of servicing advances because of forbearances.

As real estate prices soared in recent years, working-class adults everywhere have increasingly relied on mortgages backed by the Federal Housing Administration — and U.S. taxpayers.

The Department of Housing and Urban Development's 60-day foreclosure halt for Federal Housing Administration borrowers is too short to help reverse mortgage borrowers, a letter from consumer groups stated.

The percentage of mortgages underwater — when a mortgage exceeds value — has decreased dramatically in South Florida since the Great Recession, meaning the region may be better prepared to weather COVID-19 than the downturn a decade ago.

Real estate investor Tom Barrack said predicted a “domino effect” of catastrophic economic consequences if banks and government don’t take prompt action to keep commercial mortgage borrowers from defaulting.

As financial hardships mount with the COVID-19 outbreak, Fannie Mae and Freddie Mac released their plans for mortgage borrowers impacted by the pandemic.

Fannie Mae completed its first two Credit Insurance Risk Transfer transactions of 2020, shifting $1 billion of single-family loan credit risk to insurers and reinsurers.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

While the overall foreclosure rate fell, the share of zombie properties grew in the first quarter of 2020, according to Attom Data Solutions.

Black Knight introduced a model to gauge prepayment speeds and credit risk for investors that purchase commercial mortgage-backed securities.

The number of new foreclosure lawsuits filed in Hawaii declined in 2019 to mark a sixth consecutive year of fewer cases mostly against homeowners struggling with mortgage debt.

Equifax has released a series of bundled services aimed at helping financial institutions use data and analytics to manage tasks associated with the process of servicing mortgage loans.

For the first time in 15 years, fewer than 2 million mortgaged properties lie in default or foreclosure status as of the end of January, according to Black Knight.

Despite a healthy economy and booming real estate market, 2.2% of Orange County, Calif., mortgages were "seriously underwater" at year's end, Attom Data Solutions says.