Mortgage defaults

Mortgage loan performance remained strong in November as serious delinquencies fell to their lowest reported level since before the housing bubble burst, according to CoreLogic.

As more homeowners decide to age in place, the amount of equity rich properties continues to rise, according to Attom Data Solutions.

Residential mortgage-backed securities servicers are better able to weather a downturn and the resulting loan defaults today versus before the crisis because of their investments in technology and regulatory compliance, Fitch Ratings said.

New York State is providing additional funding to municipalities that will boost efforts regarding mortgage servicer compliance with the state and local vacant property laws.

The distressed real estate market has bounced back from the housing bubble as most foreclosures are due to natural disasters, according to Attom Data Solutions.

Consecutive-month default rates for home loans are increasing, and they could remain higher the next few months, according to a recent report.

Loans in commercial mortgage-backed securities originated after 2009 by nonbank lenders have a significantly higher default rate than those originated by banks, a Fitch Ratings report said.

The strong economic headwinds from last fall facilitated a declining loan delinquency rate across the country, though areas hit by natural disasters had increased defaults, according to CoreLogic.

As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages.

CoreLogic is exiting its loan origination software and default management operations over the next 24 months and instead accelerated plans to transform its appraisal management company unit.