Mortgage defaults

Default rates in second mortgages and bank cards rose notably in December, suggesting consumers are having trouble managing increased spending.

Despite the overall mortgage delinquency rate being down in October, early-stage mortgage delinquencies increased following an active hurricane season, according to CoreLogic.

Genworth Financial's acquisition by a Chinese insurance company, which has already been delayed several times, might be in peril following the failure of another cross-border merger to gain approval.

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

The largest residential mortgage servicers will get even larger in 2018, benefiting from consolidation and the outsourcing of servicing rights acquired by companies without their own platforms.

Development company NRP Group has sued the owner of the Lone Star Brewery for not refunding a $550,000 deposit after a deal to buy land for an apartment complex at the site fell through.

The seven largest national banks held less than 5% of loans that were delinquent at the end of the third quarter, the Office of the Comptroller of the Currency said Friday.

Hurricanes Harvey and Irma contributed to a surge in seriously delinquent mortgages in November.

The Home Affordable Refinance Program recorded a 45% drop in volume in October from the previous year as it continunes to wind down, according to the Federal Housing Finance Agency.

PHH Mortgage was the first mortgage servicer to be fined by the New York Department of Financial Services for failing to maintain a "zombie" property.