Mortgage defaults

Tenants at so-called Class C buildings paid 54% of total rents due in June by the middle of the month, according to a study by LeaseLock.

Ken Casey, a now-deceased Marin County, Calif., real estate developer, is being investigated by the Securities and Exchange Commission for fraud.

CUNA Mutual Group previously provided this service through a joint venture with PMI Mortgage Insurance but exited the business in 2014.

Rising equity levels lifted borrowers across the spectrum in the second quarter, according to Attom Data Solutions.

Insurance claims and claims expenses were 503% above 1Q and 1,075% over 2Q19.

The delinquent loan inventory more than doubled compared with the prior year.

The combined impact of coronavirus forbearance periods ending while low rates persist means large workloads for title insurers, appraisers and others.

While low interest rates drove up new insurance written, the increased defaults stymied overall performance.

The annual survey and ranking of mortgage servicers found that while trust is increasing, borrowers were frustrated with some digital interactions and long wait times with call centers.

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.