Servicing

The decline from 4.4% in July and 6.88% a year ago brings the number much closer to pre-pandemic norms, but foreclosure starts are a different story.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

About 400,000 plans are scheduled to drop out in September based on the limits afforded by the CARES Act.

The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.

More than 500,000 houses were potentially affected by this type of damage from the more recent storm, which was the second-most intense storm in Louisiana’s history.

Distressed homeowners who first took advantage of deferrals in March of last year will either start repayment or look for new solutions in September.

The end of many COVID relief plans in September have the industry holding its breath, with outcomes potentially foreshadowing the months to come.

The overall pace of both entries and exits slowed, even as the private-label securities and portfolio loan segment saw a spike in its numbers.

Marked declines in loans that have had relatively higher levels of pandemic-related distress reinforced other indicators suggesting the market could normalize if infection rates remain contained.

But 45% of the top 100 counties still have an above-average likelihood that borrowers won’t make their payments on these business-purpose loans, RealtyTrac said.