Servicing

The month ended with 54,000 less properties for which the borrower was at least 30 days or more late on their payments, Black Knight said.

Payment suspensions on loans securitized through the government-backed market stopped falling in May, plateaued over the summer, and reversed course last month, according to an industry trade association.

SPS will have roughly 1.4 million mortgages in its portfolio after the transaction closes, something the two companies estimate will occur in the fourth quarter of this year.

Still near historic low levels, the share of borrowers entering the early stages of delinquency in June increased 0.1 percentage point.

Historically tight underwriting reinforced by regulation and third-party reviews could be buffers, so long as manufacturing standards for production and servicing hold up as residential mortgage companies downsize, according to KBRA.

Completions in August remained far lower than before COVID-19 arrived in the United States but initial actions rose fast enough to potentially meet expectations that they'll normalize in 2023.

Housing's unusually high appreciation rates have now slowed for three months straight, and the number of metropolitan areas that are considered overvalued keeps growing, according to CoreLogic.

A larger share of cash-out loans and slowing home-price growth is leading to expectations of more serious delinquencies down the road, according to Milliman.

A mix of new distress and declining cures drove the uptick, according to dv01.

The amounts canceled may not clear away enough debt to help all recipients immediately qualify or improve their ability to repay, but over time the savings may bolster originations and performance.