Loss Mitigation

According to the new data released by the Federal Reserve Bank of Philadelphia, it’s predicted that roughly 2.15 million mortgages are either in forbearance or past due, with an estimated 630,000 of those mortgages still in forbearance as of April ...

It seems that the Federal Emergency Management Agency Risk Rating 2.0, which is changing up where and how much people are being charged for flood insurance, is impacting Texas and Florida the hardest.  FEMA’s Risk Rating 2.0 raises flood insurance ...

The consumer question at bay, do insurance companies cover natural disasters?  The answer is, there is no single insurance policy specifically labeled for natural disasters, but there are homeowners insurance plans that cover several types of potentially home-damaging catastrophes.   ...

Under terms of the new deal, Black Knight customers will have access to Covius’ array of loss mitigation and modification agreement solutions.

After peaking at 4.3 million at the height of the pandemic in June 2020, nearly two years later, an estimated 525,000 U.S. homeowners remained in forbearance plans in March.

Geared toward borrowers struggling due to the pandemic, FHA details the latest loss mitigation option to help homeowners remain in their homes.

Kerry Medel of Brookstone Management discusses the impact of the pandemic on field servicing, and how the industry not only kept people in their homes but also put more people in homes.

As pandemic forbearance plans continue to expire, borrowers are continuing to choose loan modifications and other repayment options going forward.  According to Fitch Ratings’ fourth-quarter 2021 Residential Mortgage Backed Servicer Metric Report, servicers reported a decline in loan modifications from ...

Larry Cordell, SVP, Risk Assessment, Data Analysis, and Research Group, and Xudong An, AVP, Supervision, Regulation, and Credit, both of the Federal Reserve Bank of Philadelphia, speak about foreclosure trends as borrowers continue exiting forbearance.

New announcement will require servicers with GSE-backed mortgages backed to delay the foreclosure process for up to 60 days.