Mortgage defaults

The Federal Housing Administration wants to set a hard deadline for servicers to file claims on soured mortgages. Industry executives say it should be manageable — unless foreclosures surge again.

The delinquency rate on commercial mortgage-backed securities rose from May to June, according to Trepp's monthly report.

Unless Congress acts before the end of 2015, homeowners who had their mortgage principal reduced in a loan modification or lost their homes through a foreclosure or short sale will find themselves in this position.

CV Holdings agreed to a new financing arrangement with Tricadia Capital Management to expand its business of acquiring and servicing nonperforming loans.

As negotiations between Greece and its official creditors drag on, more and more Greek homeowners are falling behind on their payments as well, according to Fitch Ratings.

Citigroup failed one of the monitoring tests performed as part of the national mortgage settlement, according to new reports filed by NMS monitor Joseph A. Smith Jr.

Home equity line of credit delinquencies and net charge-offs have not increased as expected, largely due to the beneficial impact of improving home prices and steadier economic conditions, according to a report from Fitch Ratings.

The default law firm Fisher Law Group in Upper Marlboro, Md., has been sold to a California investment firm.

The rate of mortgages delinquent for at least 30 days rose 4% in May from the previous month, according to Black Knight Financial Services.

Senate Democrats are urging regulators to investigate potential discrimination in how banks and other financial institutions handle and market foreclosed homes.

If you want to know what a Greek exit from the euro would do to the €16.64 billion ($18.54 billion) of bonds out there backed by Greek assets, start with Argentina.

Royal Financial in Chicago has agreed to sell $29.1 million in distressed assets, a deal mandated by a bankruptcy judge as part of the company's acquisition of PNA Bank.

The number of homes classified as serious delinquencies fell 2% from March to April, as industry players continue to use short sales and other techniques, according to the advocacy group Hope Now.

A flood of ex-homeowners may be ready to re-enter the mortgage market over the next five years, according to a TransUnion report.

Radian Group in Philadelphia has agreed to purchase $389 million of its convertible senior notes.

The deal, called New Residential Mortgage Loan Trust 2015-1, is the company’s first of the year; it completed three last year.

When the next wave of REO activity hits, it will be heavily influenced by some of the leftover problem loans from the last downturn, as well as new defaults from more recent originations.

RealtyTrac reported 126,868 foreclosure filings last month, the highest level of activity in 19 months, driven mainly by bank repossessions and a 5% year-over-year increase in scheduled foreclosure auctions.

Six servicers were cited for a range of infractions, including a failure to respond to requests for loan modifications and not doing enough to prevent foreclosures. Punishment was harsh for Wells Fargo and HSBC, which are banned from acquiring mortgage servicing rights and entering into new servicing contracts.

A new analysis from CoreLogic found that 254,000 homes regained equity in the first quarter, meaning there are now 44.9 million mortgaged properties (representing 90% of the total) that are above water as of March 31.