Delinquencies

Liberty Lending, Upstart Network and Regional Management Corp. are looking to price bonds backed by pools of unsecured consumer loans, amid market worries about the sectors' potential challenges during the COVID-19 outbreak.

Some of the cures were the result of short-term remedies and could reverse as relief measures end.

The ratings agency reports that the MPL industry might reckon with a potential spike in defaults as borrowers are rolled out of two- and three-month COVID-19 hardship programs.

Three non-QM deal issuers in August report varying levels of progress in moving borrowers from expired forbearance programs.

As interest rates tumbled throughout July, prepayments climbed to the highest monthly rate since 2004, but 90-days-or-more delinquencies were on the rise from June, according to Black Knight.

Positive payment behaviors in conjunction with CARES Act measures kept mortgage delinquencies from rising, but the number of borrowers facing hardship grew exponentially from last year, according to TransUnion.

For the second consecutive month, the average extension rate in June for troubled loans due to pandemic-related stresses on borrowers shrank in both prime and subprime loan sectors.

From guidelines for remote appraisal alternatives to the ways that forbearance affects borrowers' ability to get new loans, here are five examples of mortgage requirements that have been in flux since the coronavirus outbreak in the United States.

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.

The measures currently ensuring mortgage companies have sufficient cash to cover advances aren't necessarily sustainable, warns Ted Tozer, a senior fellow at the Milken Institute and a former government official.