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Default Servicing

Keeping Afloat

MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.

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The Impact of AI on the Real Estate Market

No one can say how long it will take AI to move into the underwriter’s office, but we know that’s not where it will start. New research from STRATMOR argues that the AI ripples have already begun to spread.

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Using Mortgage Reserves to Help Narrow the Black-White Homeownership Gap

New research from FHLBank San Francisco and the Urban Institute investigates ways to reduce mortgage default risk for vulnerable homeowners by utilizing mortgage reserve accounts that could help homeowners overcome temporary hardships, which would benefit Black families, who are more than twice as likely as white families to lose their home to foreclosure.

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OCC Reports Improvement in Q1 Mortgage Performance

Overall mortgage performance was on the upswing in the first quarter of 2023, as the OCC reported banks serviced approximately 12 million first-lien residential mortgage loans with $2.7 trillion in unpaid principal balances—representing 22% of all residential mortgage debt outstanding nationwide.

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GSE REO Inventory on the Rise in Q1

In addition, a new report notes that Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions in Q1 2023. Click through to read the other data from the GSEs’ Q1 2023 Foreclosure Prevention and Refinance Report.

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