Distressed

Most of the activity covered vacant and abandoned properties or commercial loans, according to Attom Data Solutions.

Short-term late payment rates rose again and later stage delinquencies remain at elevated levels compared to those prior to the pandemic, the Mortgage Bankers Association said.

While government protections currently shield most borrowers and delay process timelines, a growing backlog is likely to hit some areas of the country worse than others.

Thanks to a series of government measures, the pandemic did not cause the massive wave of distressed debt flooding the market that many expected, but certain property types remain vulnerable.

Though the government-sponsored enterprises have some of the lowest forbearance rates in the market, they expect to contend with a significant population of borrowers who face steep financial setbacks after the pandemic ends.

Also, even with bans in place, the total number of filings keeps inching up due to actions taken on vacant properties.

However, the decline in Black Knight’s numbers may stem from a previous deadline that policymakers have since extended.

However, the number of borrowers who failed to remit payment but were not yet 30 days overdue increased.

About 3.4 million renters believe themselves to be at risk of eviction, but when the moratorium ends, the actual number may be between 130,000 and 660,000, according to a Zillow report published Monday.

The Consumer Financial Protection Bureau’s acting director has said he could rethink the pending Fair Debt Collection Practices Act rules, but a report released Monday indicated they’re moving ahead for the time being.