Loss Mitigation

In order to assist struggling borrowers amid an erratic mortgage rate environment, the FHA has proposed a plan to assist borrowers through temporary reductions to monthly mortgage payments for up to five years.

According to CoreLogic, the nationwide delinquency rate dropped to 1.1%, the lowest level reported in 23 years, as the unemployment rate remains near an all-time low.

ATTOM data has found that the number of vacant homes in foreclosure has risen for the fifth consecutive quarter, as zombie properties accounted for the largest share of all homes since before the pandemic.

Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%), which matches the impact of previous similar calendar-related events.

With exposure to hurricanes and inland floods, CoreLogic found that a location in Louisiana was the riskiest place in the U.S. for property owners due to damage from natural disasters. Click through to learn the details.

Attorney Stacia E. Peterson discusses a new law change regarding the issuance of a summons and service of a complaint via electronic means.

Nationwide, the typical home costs 25% more to buy than rent, according to a new report from Redfin. Click here to see which major metro areas topped the list of places where mortgage costs are lower than estimated monthly rental costs.

New seven-year deal enables Hawaii-based bank to offer real-time mortgage servicing to help power the customer experience.

The MBA reports that approximately 255,000 homeowners remained in forbearance plans through April, as mortgage servicers have provided forbearance options to nearly 7.8 million Americans since April 2020.

All types of credit, mortgages and credit cards included, were up in Q1 of 2023.