Mortgage defaults

Rising equity levels lifted borrowers across the spectrum in the second quarter, according to Attom Data Solutions.

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 mortgage insurer is receiving $528 million of coverage in the event of defaults in a $44 billion loan pool.

For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.

A Clever Real Estate survey found a significant share of new borrowers are not making their full payment.

J.C. Penney Co., the department-store chain that’s been negotiating with creditors on a plan to restructure in bankruptcy court, made good on a missing loan payment and said it’s still considering solutions to its crushing debt load.

Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.

Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.

About 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus pandemic.

Delinquencies in U.S. commercial mortgage-backed securities jumped in April, with the economy battered by the coronavirus pandemic.