Mortgage defaults

The share of abandoned homes by their owners continues to drop at a faster pace than the overall foreclosure rate, totaling half of what they were three years ago, Attom Data Solutions said.

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying.

Bucking a national trend, the Tampa Bay area saw an increase in new foreclosure filings in the first half of the year.

The mortgage delinquency rate sits at its lowest point in over 20 years after descending annually for 17 straight months through May, according to CoreLogic. But a broader look at this year's figures could signal a shift in the narrative.

Foreclosure activity dropped 18% in the first half of 2019 compared to a year ago, continuing an 11-quarter streak of sitting below prerecession levels, according to Attom Data Solutions.

Increased consumer debt and the threat of an economic downturn increase the default risk for government-sponsored enterprise mortgages during the first quarter, according to Milliman.

Mortgages auctioned off through a HUD distressed loan sale program perform worse than those unsold and are more likely to result in foreclosure, according to a new Government Accountability Office report.

Mortgage servicer customer satisfaction levels are among the lowest of any industry as more companies prioritize cost-cutting, regulation and default management over their borrowers, according to J.D. Power.

Mortgage servicers are getting better at helping borrowers avoid foreclosure, as evidenced by a declining auction rate, which was also supported by healthy home equity levels, according to Auction.com.

While seasonal factors were attributed to the monthly rise in mortgage delinquencies for June, the jump was still much higher than last year's fairly steady increase, according to Black Knight.

MGIC reported higher-than-expected earnings, seen as a positive for the other mortgage insurers, plus Flagstar and KeyCorp had strong quarters for their mortgage businesses.

Black Knight created a pair of tools for its MSP servicing system in order to help mortgage services identify loans in their portfolio tied to areas affected by natural disasters.

Damage related to flash flooding from Tropical Storm Barry has the potential to affect about 340,000 homes, according to CoreLogic. Reports estimate a worst-case total of $10 billion in reconstruction cost value.

Some commercial mortgage-backed securities due next year could have difficulty refinancing due to the recent Ridgecrest earthquake, according to a new Morningstar report.

Not a single state posted annual gains in overall or serious mortgage delinquency rate in April as the national rate plummeted to a low not reached in over 20 years, according to CoreLogic.

Mortgages using alternative documentation like bank statements for underwriting performed stronger than expected, but uncertainty remains about their default rates in stressed environments, Fitch Ratings said.

The mortgage industry is calling for better alignment between the federal government and state of New York regarding proposed regulatory revisions that would affect local servicers.

The number of properties in some stage of mortgage default has fallen to its lowest level in 14 years as most types of delinquencies have declined, according to Black Knight.

Completed foreclosures shot down 50% in May from the year before, with overall activity also declining by 22% during the same period, according to Attom Data Solutions.

Foreclosure rates in March hit their lowest reading for the month in at least 20 years, while overall and serious delinquency rates also achieved 13-year lows for the same period, according to CoreLogic.