Mortgage defaults

First-lien mortgage defaults in June were down 4 basis points from the previous month and 5 basis points from where they were the previous year at 0.6%.

Canadians may be shouldering near-record household debt but homeowners have been managing it better than those that don't own property.

Last month's spike in defaults due to loans maturing drove the greatest month-over-month surge of U.S. commercial mortgage-backed securities delinquencies in six years, according to Fitch Ratings.

Morgan Stanley received credit for $30 million of consumer relief, completing 85% of the obligations required by its February 2016 settlement with New York State.

Test your knowledge of these key terms from the servicing sector of the mortgage industry.

The Pine Tree Plaza in Sterling, Ill., will be auctioned online after a string of tenant departures put the property in foreclosure.

The proposed site in Danvers, Mass., of a Registry of Motor Vehicles office is scheduled to be sold in a foreclosure auction, casting doubt on when, or if, the registry will actually end up there.

The owner of a $50.9 million Manhattan condo that is scheduled to be sold at a foreclosure auction next month is Kolawole "Kola" Aluko, a Nigerian businessman accused in court filings of defrauding that country's government.

Another luxury condo at Manhattan's One57 is scheduled for a foreclosure auction — the second time in a month that a property seizure is being sought at the Billionaires' Row tower following a mortgage default.

Mortgage delinquencies declined 7% in May compared with April, a partial recovery from the 13% increase of the previous month.

Defaults on first-lien mortgages fell 5 basis points in May from the previous month, dropping to their lowest level in a year, according to the S&P/Experian Consumer Credit Default Index.

Fannie Mae chose three winning bidders for its 10th nonperforming loan sale, which consisted of 3,400 loans with an unpaid principal balance of $581 million.

The share of mortgaged properties underwater is inching down toward 6% but in certain areas like Las Vegas the percentage is more than twice as high, according to CoreLogic.

Fay Servicing will pay $1.15 million in borrower restitution and possible disgorgement to settle CFPB allegations that it engaged in so-called foreclosure dual tracking and failed to keep borrowers informed about loss mitigation efforts.

Lower credit scores for mortgages refinanced in the first quarter are likely to lead to increased defaults of these loans, said Black Knight Financial Services.

DLJ Mortgage Capital, a subsidiary of Credit Suisse, is securitizing $91 million of loans insured by the Federal Housing Administration that were once delinquent but are now making timely payments.

Maryland Gov. Larry Hogan has signed a bill that will expedite foreclosures of vacant and abandoned properties this fall.

The loan comes due next month for a marquee office building in Stamford, Conn., but recent developments raise questions about the payoff of the debt.

Mortgage delinquencies increased 13% in April from March, but the calendar and seasonality were the primary reasons for the spike, said Black Knight Financial Services.

Fidelity National Financial has acquired Hudson & Marshall, a real estate auction company, and in a related move its ServiceLink subsidiary introduced a foreclosure auction product.