With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.
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Compared with the week prior, approximately 57,000 fewer loans from all investor types were forborne.
June 19
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Potential sales last month rose compared with April as homes became more affordable due to low mortgage rates.
June 18
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S&P lowered the ratings on 23 tranches of notes in the deals, affirmed eight others, and kept the other 40 notes on watch for potential downgrade. Twenty of the downgraded notes are on notice for potential future downgrades, as well.
June 18
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The inability of Democrats and Republicans to agree on a chairperson and lack of sufficient personnel have made it harder for the commission to do its job — hold Treasury and the Fed accountable for implementing the coronavirus relief law, observers say.
June 18
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New Residential Investment Corp., fresh off a substantial first-quarter reduction of its asset holdings, is now planning to securitize the receivables on its $200 billion servicing portfolio of Fannie Mae-owned mortgages.
June 17
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The language most frequently spoken by LEP consumers is Spanish, followed by Chinese, Vietnamese, Korean and Tagalog. The Federal Housing Finance Agency's online clearinghouse translates CARES Act forbearance information into these languages.
June 17
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Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic.
June 17
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The FHFA and FHA both announced for the second time that they were delaying the freeze to protect borrowers and renters during the coronavirus pandemic.
June 17
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Purchase mortgage application volume was at its most in over a decade as consumer confidence continued to improve in the aftermath of the coronavirus shutdown, according to the Mortgage Bankers Association.
June 17
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The availability of some loans used to build homes dried up due to the coronavirus. Opening up the economy may help if it doesn't lead to a spike in infections, and if consumer demand persists.
June 16
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Leveraged loans and collateralized loan obligations do not represent an "existential" threat to the global economy or to the U.S. banking system, as some recent highly charged reports have suggested.
June 16
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A lawsuit filed Tuesday argues that the bureau's establishment of the panel looking into regulatory changes violated the Federal Advisory Committee Act.
June 16
