Distressed

Retroactive interpretations have bedeviled mortgage servicers and the market for older loans. The industry will be watching other cases in New York closely now.

The latest reports from ICE Mortgage Technology and VantageScore appear to be in line with hints at growing borrower pressure officials are eyeing in policy.

While the overall delinquency rate improved this summer, FHA-backed mortgage borrowers continued to exhibit concerning levels of payment stress in July.

While foreclosure numbers in the first six months of this year were up compared to 2024, starts eased as the spring progressed, according to Attom.

Calls for foreclosure prevention advice jumped upward by almost 30% from a year ago and helped fuel overall consumer distress levels to a five-year high.

While consumer distress in auto and personal loans also picked up, the pace of growth among mortgages was atypical, Vantagescore's monthly credit gauge said.

Loans with alternative documentation and high combined loan-to-value ratios had more performance concerns, according to a new KBRA study.

The latest foreclosure report adds to evidence from housing research groups that economic difficulties are beginning to impact a rising number of homeowners.

The Department of Veterans Affairs ended a break for borrowers put at a disadvantage by a discontinuation of pandemic aid as they transitioned to a new program.

Completed foreclosure auctions should be 8% lower this year, but if home value and unemployment expectations change, all bets are off, Auction.com said.

Only 5% of homeowners in designated disaster-assistance areas were required to hold flood insurance, according to the Federal Housing Finance Agency's dashboard.

The Treasury, CFPB and Federal Trade Commission are joining forces to warn consumers about predatory practices in financing solar energy panels.

Forbearance rose for the first time since October 2022 in one report. Delinquencies jumped from a near-record low in another. Experts debate the ramifications.

The proposal would add reforms aimed at broadly prioritizing owner-occupant access and end the "test" or "demonstration" mode these sales have been in since 2002.

Property insurance and taxes account for over one-third of current loan performance risk, according to Auction.com's recent survey of default servicing leaders.

Although experts are predicting an active season, actual damages could be lower depending on how many storms make landfall and where, Corelogic reported.

Fears that foreclosures and abandoned property rates could spike once Covid-19 moratoriums ended have not come to fruition, Attom Data Solutions said.

The Federal Housing Administration's clarification addresses interpretations of an 8th U.S. Circuit Court of Appeals decision that increased industry costs.

But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.

But Fannie Mae and Freddie Mac conducted no private-market sales of nonperforming loans early last year as adjustments were made to the program.