Mortgage defaults

Natural disasters are now the leading driver of lenders' foreclosure risk, with last year's hurricanes causing a rise in third-quarter filings in affected markets, according to Attom Data Solutions.

The mortgage delinquency rate fell to a 12-year low, with declines expected to continue as the unemployment rate stays down, according to CoreLogic.

Destruction from Michael's storm surge and flooding has potential to affect 57,000 homes, with a worst-case total of $13.4 billion in reconstruction cost value, according to CoreLogic's latest estimates.

Delinquencies will be on the rise and Veterans Affairs loans have greater density within FEMA-declared disaster zones from Hurricane Florence, according to Black Knight.

Foreclosure starts increased 9% in August compared with July, slightly higher than the historic norm between the two months, according to Attom Data Solutions.

Florence's flooding and wind destruction affected about 700,000 residential and commercial properties across North Carolina, South Carolina and Virginia, according to CoreLogic's latest estimates.

Real estate crowdfund lender Sharestates introduced a new program to provide financing to investors to purchase nonperforming mortgage loans.

The mortgage delinquency rate dropped to its lowest level in over 12 years, but servicers should expect an increase following the impact of Hurricane Florence, according to Black Knight.

An AI-powered virtual assistant could be used in a variety of ways, including helping customers to prequalify for mortgages, easing compliance and detecting problems.

While the severity of Florence was reduced prior to Friday morning's landfall, mortgage servicers are taking proactive steps in addressing the emergency situation.