Mortgage defaults

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.

Covius Holdings plans to buy several businesses from Chronos Solutions that support mortgage servicing and origination processes, including three delivery platforms that will increase the breadth of its technology offerings.

In the worst-case scenario, $1.8 trillion in reconstruction costs could result from coastal storms in 2019, even as hurricane experts predict a near-normal year for this season, according to CoreLogic.