Mortgage defaults

In addition to the potential wave of mortgage defaults resulting from coronavirus-driven forbearances, hurricane season could put nearly 7.4 million homes worth $1.8 trillion at risk.

But the number of foreclosures and zombie properties may spike after the moratorium ends on June 30.

Kalahari Resorts defaulted on a $347 million mortgage originated by JPMorgan Chase

To deal with the crunch, servicers should combine cloud and digital workflow automation technologies.

The global hospitality industry is facing the worst downturn in its history, and New York, the epicenter of the coronavirus outbreak in the U.S., is poised for a painful recovery.

Homeowners hurt by coronavirus were told they could delay their mortgage payments without facing consequences. Now, some are learning they’re at risk of being shut out of the housing market.

By the end of the first quarter, the number of borrowers 30 days late on their mortgage increased by 59 basis points.

After over two years of falling delinquency rates, the burgeoning unemployment following the coronavirus economic shutdown will bring a surge of outstanding mortgages.

Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.

Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.

But it is still looking to conserve capital to cover future delinquencies and will likely halt dividends to the parent company.

With unemployment mounting, new mortgage forbearance requests could sharply increase in early May when payments are due.

About 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus pandemic.

Delinquencies in U.S. commercial mortgage-backed securities jumped in April, with the economy battered by the coronavirus pandemic.

FHFA Director Mark Calabria stated that he was directing the GSEs to "add liquidity" to the markets, but the actions of the FHFA say precisely the opposite.

Due to COVID-19's economic impact, the number of mortgaged properties in default or foreclosure rose in March for the first time since the turn of the century, according to Black Knight.

January saw the lowest mortgage delinquency rate in over 20 years, according to CoreLogic.

Researchers predict that the rate will rise in step with unemployment rate projections.

FHFA head Mark Calabria and his FSOC counterparts need to sit down with the Treasury and fashion an emergency capital plan for the GSEs.

If rising flood waters were the right analogy last time around, this time a tsunami is probably a more accurate description of the wave of delinquencies about to come.