Tag Archives: Loan Modification

With an estimated 2,200+ structures reported destroyed or damaged in Hawaii, 86% of them residential homes, the GSEs are offering guidance for homeowners impacted in the region.

While nationwide home prices and average costs of living continue to rise, a new case study from Black Knight highlights servicer success using self-service loss mitigation technology to connect with and engage borrowers in times of financial distress.

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.

Attorneys T. Robert Finlay and Jonathan D. Fink explore a recent court ruling where a lender’s settlement agreement with its defaulting borrowers violated California’s usury laws by including a provision for interest at a higher rate than that allowed by state law.

The MBA reports that pandemic-related loss mitigation options have pushed forbearance levels lower, as mortgage performance remains strong with post-forbearance workouts increasing in March.

Matthew Perez of FICS explains why mortgage servicers need to embrace non-English-language support now.

The MBA reports the performance of serviced loans nationwide remained relatively flat in November, despite the forbearance rate for Ginnie Mae loans increasing for the fourth straight month.

The impact of Hurricane Ian in the Southeast U.S. forced the share of mortgage loans in forbearance slightly upward in October, as an approximately 350,000 U.S. homeowners are now in forbearance plans.

The MBA reports that nationwide forbearance volume continues to drop, however the impact of Hurricane Ian may change that trend as servicers continue to report on the devastation from the storm.

While overall mortgage servicers’ portfolio volume of loans in forbearance continues to dwindle, Ginnie Mae loans in forbearance increased in August, with approximately 360,000 U.S. homeowners currently in forbearance plans.