Loss Mitigation

The number of borrowers in COVID-19-related mortgage loan forbearance plans dipped below 1.6 million for the first time since the onset of the pandemic, according to the weekly report from Black Knight, whose data-analytics team has been tracking forbearance activity ...

After weeks of leveling off, the share of mortgage loans in forbearance plans dipped this week, with a large shift in the location of many FHA and VA loans, which were bought out of Ginnie Mae pools and moved onto servicer balance sheets.

Mom-and-pop landlords have been forgoing maintenance due the eviction moratorium, as a new study reports that 28% of landlords were found deferring maintenance on at least one of their units during the pandemic.

Beginning today, the CFPB’s new rule to increase protections over homeowners takes effect, as servicers step up their efforts to assist borrowers in jeopardy of foreclosure.

As many approach the 18-month mark since entering forbearance plans, the number of exits has diminished, with overall volume changing little over the previous week.

The recent rise in Covid variant cases is again impacting the nation’s job force, with recent forbearance exits slowing their pace.

By a 6-3 vote, the U.S. Supreme Court has put an end to the CDC’s eviction moratorium, as an estimated seven million Americans remain delinquent on their housing payments due to pandemic-related issues.

Mortgage servicers are seeking answers from technology to improve their operations with an ‘automation first’ strategy in a post-COVID market.

The department updates procedures in attempt to speed distribution of funds to property owners and renters in the aid-application pipeline.

Overall forbearance volume slid slightly this week, as the MBA reported exits hit their slowest pace in more than a year.